Thread: Devils Default on Loan, Bankruptcy Looming????

Will that arena surviving a tornader?

Report: Devils bailed out of debt ... for now - Hockey Blog - ESPN New York

A “deep-pocketed investor” is on the verge of taking up Devils owner Jeff Vanderbeek’s $80 million debt, according to the New York Post.

Vanderbeek will have until the start of the 2012-13 season to come up with new capital, according to the newspaper. If he doesn’t, he’ll be forced to sell the team.

The NHL has given the Devils almost $10 million against future revenue, according to the newspaper.

The Devils are surging in the Eastern Conference standings, but the newspaper says Vanderbeek still won’t have enough money even if they make a deep playoff run.

The Devils were on the verge of going into bankruptcy per NHL rules, sources told the newspaper.

Very interesting development. Too early to tell what the outcome will be. To me, it looks as if Vanderbeek is hanging on by a thread. I wonder what the intentions of the 'deep pocket investor' are. Is he planning to buy out Vanderbeek if he cannot turn it around? That would be the obvious outcome, but who knows. And, of course, it leads to further Parise speculation. As a Devils fan it feels like good news simply because this has gone on too long and I wan't it resolved one way or the other with the least amount of damage.

I bet it's someone like Donald Trump. New York loves it's three hockey teams.

Interesting speculation. It's probably that fast food guy from Long Island, who has been willing to buy the debt in the interest of buying the team. I think this is Vanderbeeks last stand.

Originally Posted by jerseydevil

Report: Devils bailed out of debt ... for now - Hockey Blog - ESPN New York



Very interesting development. Too early to tell what the outcome will be. To me, it looks as if Vanderbeek is hanging on by a thread. I wonder what the intentions of the 'deep pocket investor' are. Is he planning to buy out Vanderbeek if he cannot turn it around? That would be the obvious outcome, but who knows. And, of course, it leads to further Parise speculation. As a Devils fan it feels like good news simply because this has gone on too long and I wan't it resolved one way or the other with the least amount of damage.

Well Parise says Nj's financial problems wont prevent them from re-signing him.

Devils tell Zach Parise team's financial woes won't affect effort to re-sign him | NJ.com