NHL Reportedly In Talks To Advance Devils Money To Help Team Operate Through Season
The NHL is in talks with the Devils to "advance the team money so it can continue to operate through the season," according to Kosman & Everson of the N.Y. POST. Sources said that under the league's plan, Devils Chair & Managing Partner Jeff Vanderbeek would "continue to run the team while he pursues a long-term financing solution." An NHL spokesperson "called a report that the league was considering funding the Devils 'inaccurate,' but declined to elaborate." The team is "on track to lose up to $20 million this season," and has "not been able to repay an $80 million principal payment that was originally due Sept. 1." Vanderbeek has been "looking to raise money by securitizing the team’s long-term television rights deal with the MSG cable sports network" (N.Y. POST, 1/21).