New Jersey Devils Are ‘Very Close’ to New Financing Deal, N.Y. Post Says
The New Jersey Devils are “very close” to a deal with a new investor to pay down the National Hockey League team’s $80 million in overdue debt, the New York Post reported, citing unidentified sources.
The NHL has funded the Devils for the past few months, loaning it $10 million against future revenue, the newspaper said. The Post didn't identify the possible investor or disclose how it got the information.
Devils’ controlling owner Jeffrey Vanderbeek, a former Lehman Brothers Holdings Inc. (LEHMQ) executive, will have to find extra cash by the start of the next season, or could be forced to sell, the Post said.
To contact the reporter on this story: Danielle Rossingh on the London sports desk at +44-20-7073-3628 or email@example.com
To contact the editor responsible for this story: Christopher Elser at +44-20-7673-2284 or at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.