Jump to content
NHL'94 Forums

devs in trouble?


Recommended Posts


According to a report from Mike Ozanian of Forbes,
the National Hockey League is poised to take over ownership of the New
Jersey Devils "around the time the season begins next month when teams
begin cutting payroll checks."

The Devils were nearly purchased earlier this summer by attorney
Andrew Barroway who reportedly sunk 30 million worth of debt capital
into the club at that point. According to Ozanian, Barroway withdrew
once he got a closer look at New Jersey's books.

The Devils are sinking in $230 million in debt and
their current owner Jeff Vanderbeek missed a payment on a recently
restructured bank loan. According to Ozanian the NHL doesn't want the
club to file for bankruptcy, preferring to operate the club at the
league's expense while looking for a buyer.

The Josh Harris led Philadelphia 76ers ownership group have reportedly expressed interest
in purchasing the Devils recently. Only this past week the NHL divested
itself of ownership of the Phoenix Coyotes, a club the league had
operated for the past four seasons.

Link to comment
Share on other sites

This has been lingering forever...hopefully someone will buy the team already. All reports say the buyer will not move the team.

Thursday, August 08, 2013 Two groups in bidding for Devils, could be done “quickly”; Report NHL plans takeover “not accurate”

Contary to a report in Forbes today, the NHL has no plans to take over the New Jersey Devils.

In fact, a source with knowledge of the ownership process said a deal to complete the sale of the team to one of two bidding groups could be completed “quickly” and estimated it could be only a matter of days. Another source said that timetable might be overly optimistic, but that the process is “close” to wrapping up.

“I haven’t seen the Forbes report, but if the suggestion is we’re going to take over the Devils, which is what I’ve heard the report says, it’s not accurate,” NHL commissioner Gary Bettman said today following a Yankee Stadium news conference to promote the two outdoor games to be played there – Devils vs. Rangers on Sunday, Jan. 26 (12:30 p.m.) and Islanders vs. Rangers on Wednesday, Jan. 29 (7:30 p.m.)

Although Forbes reported that a group headed by attorney Andrew Barroway had dropped out of the bidding, two sources insisted that group was still heavily involved and trying to buy the team. That group has already invested more than $30 million in the Devils in beginning the process of buying at least a controlling share of the team from current owner Jeff Vanderbeek.

Barroway’s group has competition, however, from the Philadelphia 76ers ownership group, headed by investment banker Josh Harris, three sources have confirmed. - See more at: http://blogs.northjersey.com/blogs/fireice/comments/two_groups_bidding_to_buy_devils_bettman_report_nhl_planning_to_take_over_team_not_accurate/#sthash.O6a2XFHS.dpuf

Link to comment
Share on other sites

seriously ! ,the NHL needs to get rid of some teams and make the lg stronger n richer and more of a elite lg,too many no name bums.

Get rid of phoenix,columbus,florida,new jersey,aneheim or sj,nashville

You'd be suprised how good columbus,anaheim,sj, and nashville are doing. no need to get rid of them...

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...