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New Jersey Devils ‘Very Close’ to Financing Deal, N.Y. Post Says

Feb. 21 (Bloomberg) -- 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. 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 drossingh@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at +44-20-7673-2284 or at celser@bloomberg.net

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