Thursday, May 31, 2012

New Jersey Devils Owner Jeff Vanderbeek Confident In Financial Situation - SB Nation

The Devils may be in the Stanley Cup Finals, but there's still doubt about the club off the ice. It's not overshadowing the team like the situation in Phoenix has done to the Coyotes, but there are still uncertainties when it comes to owner Jeff Vanderbeek's hold on the club. Commissioner Gary Bettman talked about the process Wednesday.

"The New Jersey situation," Bettman said, "as we understand it at its most up-to-date point, is that the club, Jeff Vanderbeek, is working on both refinancing the debt on the club and an equity raise. He appears to be fairly confident that he can pull this off in due course in the next few weeks. Since I've been in touch with the banks on a regular basis, we seem to be on track."

The club's debt is reported to be around $80 million.

For more on the Devils, check in with In Lou We Trust and SB Nation New York.

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