Jun 28, 2013, 12:50 PM EDT
Mike Ozanian of Forbes.com reports the Devils may be sold to attorney Andrew Barroway. He reports the NHLPA is telling its members that Barroway has loaned $30 million to the Devils to help pay down their debt and that a group led by Barroway may be purchasing the team.
Forbes’ report quotes a memorandum that went out to the Players’ Association on June 27, 2013 that says the team has run into “serious cash flow issues” that have resulted in missed payments that were resolved by the league. That much we’d heard about previously. Their comment on Barraway makes for new information.
“Recently, the Club was able to arrange a significant infusion of debt capital ($30 million) from an investor that is interested in purchasing the the Club from [Jeff] Vanderbeek. We understand from League officials that the new investor, Andrew Barraway [sic], is currently negotiating with Vanderbeek and thier [sic] expectation is that either Barroway or another ownership group will end up owning the team within the next 120 days or so.”
PHT reached out to the NHLPA for comment, but they declined to speak about it.
The Devils having a new owner within the next four months would help make for an even busier time for the NHL as they’re on the verge of a resolution regarding the Phoenix Coyotes’ ownerless situation.
Barroway was once part of a group that tried to purchase the Philadelphia 76ers. As for the current owner of the Devils, Tom Gulitti of Fire & Ice adds that Vanderbeek will maintain a minority share of the team.
Jul 1, 2015, 1:29 PM EDT
27-year-old never really panned out in Boston.
Jul 1, 2015, 1:22 PM EDT
Having already signed former Canuck Brad Richardson.
Jul 1, 2015, 1:11 PM EDT
Nice raise after playing for $700,000 in Pittsburgh last season.
Jul 1, 2015, 1:08 PM EDT
End of an era in Toronto. A premier goal-scoring winger heads to Pittsburgh.
Jul 1, 2015, 1:08 PM EDT
All the signings from what promises to be a busy day.
Jul 1, 2015, 1:07 PM EDT
Finnish forward coming off a strong first season in St. Louis.
Jul 1, 2015, 12:56 PM EDT
Jul 1, 2015, 12:54 PM EDT
Steve Mason has a new backup.
Jul 1, 2015, 12:48 PM EDT
One of the prized UFA d-men, off the market.
Jul 1, 2015, 12:46 PM EDT
Peter Chiarelli, making moves.
Jul 1, 2015, 12:32 PM EDT
Spent last year as Marc-Andre Fleury’s No. 2 in Pittsburgh.
Jul 1, 2015, 12:25 PM EDT
Will be expected to provide a steadying presence on Colorado’s blue line.
Jul 1, 2015, 12:23 PM EDT
Former Ranger gets a nice deal on the opening day of free agency.
Jul 1, 2015, 12:18 PM EDT
Big d-man sticks for one more year in the ‘Peg.
Jul 1, 2015, 12:12 PM EDT
Chuck Fletcher takes care of business early on July 1.
Jul 1, 2015, 12:11 PM EDT
Led all Vancouver d-men with 11 goals.
Jul 1, 2015, 11:51 AM EDT
“I really didn’t get any indications of anything negative in exit meetings.”
Jul 1, 2015, 11:41 AM EDT
One year, at $575,000.
Jul 1, 2015, 11:01 AM EDT
Once again it’s him, Jonas Hiller and Joni Ortio in goal.
Jul 1, 2015, 11:00 AM EDT
The 35-year-old cashes in on a productive “last chance” season.
- Blockbuster: Kessel traded to the Penguins 44
- PHT’s 2015 free agent frenzy tracker 26
- Oilers get Sekera for six years, closing in on Letestu 5
- Avalanche sign veteran d-man Beauchemin for three years 5
- Neely was ‘surprised’ that Hamilton didn’t want to sign with Bruins 12
- NHL, Coyotes deny report that team is moving to Vegas 32
- Report: Richards’ border incident involved oxycodone 63
- Trade: Bieksa headed to California — but it’s Anaheim, not San Jose 25
- Trade: Jackets land Saad, Anisimov and Dano headed to Chicago 91
- Hamilton signs six-year deal with Flames 19
- Trade: Flyers send Rinaldo to Bruins for 2017 third-rounder (105)
- Trade: Jackets land Saad, Anisimov and Dano headed to Chicago (91)
- Bypassing a buyout? Kings terminate Richards’ contract for ‘material breach’ (90)
- Trade: Flames land Dougie Hamilton for package of picks (75)
- Trade: Busy Bruins send Lucic to Kings (66)