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.
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