Found August 07, 2012 on
from Josh Kosman of the NY Post, After trying for months to raise enough cash to pay off overdue loans, New Jersey Devils owner Jeff Vanderbeek is still short of his goal — with just a week to go, The Post has learned.
The former Wall Street executive needs another $20 million to make the lenders happy, sources close to the situation said.
Angry creditors are poised to pounce on Aug. 14, these sources said.
Failure to come up with the funds could result in Vanderbeek losing control of the team.
“He had worked out a deal to raise a certain amount and has not been able to do that,” a source said.
Vanderbeek is working — negotiating with the lenders and the National Hockey League — to remain at the head of the NHL’s Eastern Division champs should he not raise the needed money.
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