NHL

Report: Devils close to being sold

Share This Story

   
 

NEWARK, N.J. (AP)

The three-time Stanley Cup champion New Jersey Devils are for sale and a deal is expected before the start of the NHL season.

A RINK AND A SMILE

Check out the FOXiest fans of NHL teams across the continent and tweet us your photo.

A person familiar with the negotiations says several groups are vying to buy the financially strapped franchise and there is a chance a deal might be done quickly.

The source spoke to The Associated Press Thursday and requested anonymity because the negotiations between Devils owner Jeff Vanderbeek and the groups are still active.

Philadelphia 76ers owner Josh Harris heads one group and Calgary billionaire Bill Gallacher is another, as the deal includes operating rights to the Prudential Center.

The team will not relocate, the source said, adding that Vanberbeek will retain a minority ownership with the Devils.

The NHL said it has no interest in taking over the team. Commissioner Gary Bettman addressed the issue on Thursday after a news conference in New York to promote two outdoor games at Yankee Stadium. Earlier in the day, Forbes had reported that the league would likely take over the team in September unless a new owner was found.

''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,'' Bettman said.

The NHL recently ran the Phoenix Coyotes for four years before finding a new owner.

Forbes reported the Devils have $230 million of debt and that Vanderbeek missed the first payment on a recently restructured bank loan. Vanderbeek seemingly was close to selling the package to a group headed by Philadelphia attorney Andrew Barroway, but the deal fell through.

The source said Barroway's group, which has invested $30 million in the offer, is still in the mix but at this point it has been ''outbid.''

Devils general manager and president Lou Lamoriello declined to comment on the negotiations.

''That's one thing I stay away from,'' Lamoriello said in a telephone conversation with The AP.

A former Devils season ticketholder since the 1980s, Vanderbeek became a minority owner of the Devils in 2000. He purchased the team and became its majority owner in 2004.

ONE LAST GO-ROUND

Take a look back at the best fights from the 2012-13 season.

Vanderbeek was one of the leading proponents behind the building of the Prudential Center, which opened as the Devils' home in 2007. The New Jersey Nets also played at the arena before moving into a new home in Brooklyn this past season.

The Devils won the Stanley Cup in 1995, 2000 and 2003, and won additional Eastern Conference championships in 2001 and 2012. They missed the playoffs in the recent lockout-shortened season and were then stunned when 30-year-old superstar forward Ilya Kovalchuk decided to play in his native Russia.

The Devils moved to New Jersey in 1982, playing at the Meadowlands after relocating from Colorado.

Tagged: Devils

Related Stories

Member Comments

Please note by clicking on "Post comment" you acknowledge that you have read the Terms of Use and the comment you are posting is in compliance with such terms. Be Polite. Inappropriate posts may be removed by the moderator.

powered by



Play Hockey Simulation Game on WhatIfSports

NHL Videos

Toews, Kane: Easy decision to resign with Blackhawks Posted: Jul 17, 2014
Jonathan Toews and Patrick Kane say their decision to sign matching 8-year, $84M...

LA mayor 'F-bombs' Kings rally Posted: Jun 17, 2014
Los Angeles mayor Eric Garcetti toasts the Stanley Cup champion Kings in front o...

Kings, fans celebrate Stanley Cup Posted: Jun 16, 2014
Kings players celebrate winning the Stanley Cup with a parade through downtown L...

Fox Sports Store

    itemName itemURL imageSrc price itemDescription
    Reebok Sidney Crosby Pittsburgh Penguins Premier Hockey Jersey - Black http://shop.foxsports.com/FOX_Pittsburgh_Penguins/browse/featuredproduct/175178/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_175000/FF_175178_xl.jpg&w=100 159.95 Reebok Sidney Crosby Pittsburgh Penguins Premier Hockey Jersey - Black
    Reebok Dallas Stars White Premier Hockey Jersey http://shop.foxsports.com/FOX_Dallas_Stars/browse/featuredproduct/243363/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_243000/FF_243363_xl.jpg&w=100 124.95 Reebok Dallas Stars White Premier Hockey Jersey
    Reebok Tampa Bay Lightning Primary Logo T-Shirt - Royal Blue http://shop.foxsports.com/FOX_Tampa_Bay_Lightning/browse/featuredproduct/301017/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_301000/ff_301017_xl.jpg&w=100 19.95 Reebok Tampa Bay Lightning Primary Logo T-Shirt - Royal Blue
    Majestic Anaheim Ducks Black Official Logo Full Zip Hoodie Sweatshirt http://shop.foxsports.com/FOX_Anaheim_Ducks/browse/featuredproduct/398322/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_398000/FF_398322_xl.jpg&w=100 43.99 Majestic Anaheim Ducks Black Official Logo Full Zip Hoodie Sweatshirt
    Detroit Red Wings Youth Black Southpaw Backpack http://shop.foxsports.com/FOX_Detroit_Red_Wings/browse/featuredproduct/403205/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_403000/FF_403205_xl.jpg&w=100 24.95 Detroit Red Wings Youth Black Southpaw Backpack
    Reebok Chicago Blackhawks #88 Patrick Kane Red Premier Hockey Jersey http://shop.foxsports.com/FOX_Chicago_Blackhawks/browse/featuredproduct/408123/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_408000/FF_408123_xl.jpg&w=100 159.95 Reebok Chicago Blackhawks #88 Patrick Kane Red Premier Hockey Jersey
    Majestic New Jersey Devils Red Felt Tek Patch Pullover Hoodie Sweatshirt http://shop.foxsports.com/FOX_New_Jersey_Devils/browse/featuredproduct/456774/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_456000/ff_456774_xl.jpg&w=100 47.99 Majestic New Jersey Devils Red Felt Tek Patch Pullover Hoodie Sweatshirt
    Vancouver Canucks 2011 NHL Western Conference Champions Hockey Stick http://shop.foxsports.com/FOX_Vancouver_Canucks/browse/featuredproduct/665779/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_665000/ff_665779_xl.jpg&w=100 11.95 Vancouver Canucks 2011 NHL Western Conference Champions Hockey Stick
    Majestic New York Islanders Royal Blue Felt Tek Patch Pullover Hoodie Sweatshirt http://shop.foxsports.com/FOX_New_York_Islanders/browse/featuredproduct/752594/source/foxsports_prsp_ca http://images.footballfanatics.com/FFImage/thumb.aspx?i=/productImages/_752000/ff_752594_xl.jpg&w=100 47.99 Majestic New York Islanders Royal Blue Felt Tek Patch Pullover Hoodie Sweatshirt