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.
May 4, 2015, 11:19 PM EDT
Washington needs its bottom-six forwards to keep contributing in order to go deep into the playoffs.
May 4, 2015, 10:28 PM EDT
It was his first shutout of the 2015 playoffs.
May 4, 2015, 9:40 PM EDT
It’s part of the leadup to the Detroit vs. Colorado outdoor game.
May 4, 2015, 9:04 PM EDT
Andre Burakovsky got his first career playoff point.
May 4, 2015, 8:23 PM EDT
“Without that, goaltending and team defense can only take you so far.”
May 4, 2015, 7:25 PM EDT
All three have won the Stanley Cup.
May 4, 2015, 6:56 PM EDT
Her husband faces domestic violence charges.
May 4, 2015, 6:12 PM EDT
The series is tied at 1-1.
May 4, 2015, 5:42 PM EDT
And they’ll gladly keep taking man advantage opportunities, too.
May 4, 2015, 4:24 PM EDT
“Coming out of junior, we had such high hopes for him.”
May 4, 2015, 4:09 PM EDT
Big news from the Devils.
May 4, 2015, 3:31 PM EDT
And Glen Sather isn’t sure he’ll ever permit it, either.
May 4, 2015, 3:10 PM EDT
“I have to get to the inside; that’s the biggest thing.”
May 4, 2015, 2:28 PM EDT
The Ducks have been deadly on the power play, unlike during the regular season.
May 4, 2015, 1:52 PM EDT
Youth-laden squad continues to impress.
May 4, 2015, 1:12 PM EDT
“If it means allowing players to go to free agency, if it means making players sweat it out on what their deal’s going to be, he’s the priority for us.”
May 4, 2015, 1:07 PM EDT
Virtanen was the sixth overall pick in the 2014 draft.
May 4, 2015, 12:49 PM EDT
Jets’ AHL team will play at the MTS Centre next season.
May 4, 2015, 12:34 PM EDT
He’s hoping to “find a way to get a bigger role.”
May 4, 2015, 11:37 AM EDT
“Prust has engaged himself in something that’s going to take him into an area where he doesn’t want to be part of.”
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