Originally written on MyTeamRivals.com  |  Last updated 8/9/12
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...
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

J.T. Barrett named Ohio State captain, not Cardale Jones

Kevin Sumlin tweets joke about Steve Sarkisian

Report: Redskins 'ready to move on' from Robert Griffin III, plan to start Kirk Cousins Week 1

Oregon starting QB added to roster two weeks ago

WATCH: Bournemouth’s Callum Wilson scores gorgeous goal

Arkansas freshman C.J. O’Grady arrested, charged with DWI

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Michael Jordan’s ‘Space Jam’ uniform up for auction

Jameis Winston featured on a Publix banner

Rousey-Holm moved to UFC 193 Nov. 14 in Australia

Vin Scully will return to the Dodgers in 2016

Rob Gronkowski’s younger brother, Glenn, trying to make NFL as fullback

Michael Bennett fined over $17K for nasty hit on Alex Smith

NHL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Fantasy football round-by-round draft strategy

Ronda Rousey's Carl’s Jr. ad

The WWE Divas Revolution is getting ugly

The NFL’s season kickoff isn’t going as planned, but plans don’t matter in the NFL

The Opening Drive: What happened to all the great Michigan tailbacks?

The 1980s Lakers represent the NBA’s ultimate creation story

The Orioles’ frustrating season

Five greatest NBA players of all-time

Finding signs of life for the Red Sox

10 NFL players set for down seasons in 2015

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker