Found August 09, 2012 on
According to a New York Post report, New Jersey Devils’ owner Jeff Vanderbeek is still $20 million short of the money needed to pay off overdue loans. He has a week to find the necessary cash.
The Post’s Josh Kosman, who has been the leading reporter on this story for months, says creditors are ready to take action on Aug. 14 if Vanderbeek comes up short. Needless to say, a failure to pay off the loans may well see Vanderbeek out of position with the team.
“He had worked out a deal to raise a certain amount and has not been able to do that,” a source told the Post.
Vanderbeek reportedly 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,” according to the Post.
Vanderbeek missed an $80 million loan repayment in September and the problems have escalated since. He needs to have $40 million on Aug. 14, but is still roughly 50 percent short as several reported other d...
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Over the last few days several reports have surfaced about Jeff Vanderbeek not being able to pay off debts and that he may lose majority ownership of the team if he doesn't pay them off soon. That, as many of you have seen, has led to a lot of speculation surrounding the franchise. Today I'll touch on that situation as well as unrestricted free agent Petr Sykora.
Yesterday afternoon the New Jersey Devils dipped into the unrestricted free agent market and signed one of the better UFA's, at least in terms of potential, remaining in forward Bobby Butler. Here are my thoughts on the signing.
- For those of you who have followed me on twitter and my articles here throughout the summer, you'll know that I really like Butler and think...
According to Josh Kosman of the New York Post, with just a week remaining to pay off some previously over-due loans, New Jersey Devils majority owner Jeff Vanderbeek is still approximately 20 million dollars short.
Should Vanederbeek fail to pay off his debts in time or arrange an extension on the deadline date, Vanderbeek could lose his control of the franchise, Kosman reports...
Reports have Uncle Lou and the New Jersey Devils and Bobby Butler have agreed on a one year deal.
Reports are it is a two-way deal still pending confirmation.
Interesting move, perhaps another diamond in the rough such as Ryan Carter and Steve Bernier. The two-way gives much less risk and tells me Uncle Lou is not done adding pieces... perhaps Petr Sykora.
Butler, which Todd...
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According to reports from Danny Picard at Comcast SportsNet, it looks like former Ottawa Senators forward Bobby Butler has found a new team to skate with next season.
Picard suggests that the deal Butler signed with New Jersey is a two-way contract, which makes Lou Lamoriello's most-recent dice-roll far less risky. Butler's...