Jun 28, 2013, 12:50 PM EST
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.
Dec 13, 2013, 2:02 AM EST
All three San Jose goals came on the power play.
Dec 13, 2013, 1:30 AM EST
But they snapped that 10-game losing streak the other day.
Dec 13, 2013, 1:03 AM EST
His inconsistent season continues.
Dec 13, 2013, 12:36 AM EST
Quite the funk they’re in when it comes to this aspect.
Dec 13, 2013, 12:17 AM EST
Bet these guys were tired after.
Dec 12, 2013, 11:57 PM EST
What a day in Calgary. More Brian Burke!
Dec 12, 2013, 11:34 PM EST
Yeah, these are tough times.
Dec 12, 2013, 11:10 PM EST
Didn’t think too highly of it.
Dec 12, 2013, 10:45 PM EST
But two points eluded them.
Dec 12, 2013, 10:23 PM EST
Dec 12, 2013, 10:06 PM EST
And it’s getting worse in New York.
Dec 12, 2013, 9:17 PM EST
Nice moment in Philly.
Dec 12, 2013, 9:04 PM EST
Montreal defenseman’s night ends early.
Dec 12, 2013, 8:52 PM EST
Jonathan Bernier takes over.
Dec 12, 2013, 8:15 PM EST
Tough time to be a Columbus goalie.
Dec 12, 2013, 7:39 PM EST
Cam Talbot was cheered upon entering the game.
Dec 12, 2013, 7:10 PM EST
No word on the severity of TT’s injury.
Dec 12, 2013, 6:27 PM EST
He’s been out with a lower-body injury.
Dec 12, 2013, 5:17 PM EST
Oilers coach wants to use “speed” and “smarts” tonight.
Dec 12, 2013, 4:40 PM EST
Oh, and Anders Nilsson sent back to AHL.
- Wild coach accuses Sharks of embellishment 0
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- Burke wants the Flames to be — yep, you guessed it — more ‘truculent’ 40
- Flames fire GM Jay Feaster 36
- Video: Projected rise in salary cap could have some players ‘licking their lips’ 19
- Discuss: Blackhawks score big on Rivalry Night on NBCSN 37
- Crosby: If I had to guess Thornton’s suspension, I’d say 10 games 83
- Cowen gets two-game suspension for hit on Girgensons 12
- Rangers must consider Callahan’s injury history in contract talks 13
- The Chip ‘n’ Chase: Outrage over hockey violence, Gary Bettman is a happy man, Darryl Sutter is awesome, and more! 33
- Video: Penguins’ Orpik stretchered off ice; Bruins’ Thornton given match penalty (184)
- Neal suspended five games for kneeing Marchand in the head (156)
- Bruins coach admits Thornton crossed the line, slams Pens for not being ‘truthful’ (138)
- Pens put Orpik on IR (132)
- Orpik suffers from concussion, including memory loss (118)