New Jersey Devils To Be Sold To Investor?
The New Jersey Devils may be sold to an attorney who helped the team get out of its recent financial woes.
According to a memo from the NHL Players Association posted by Forbes magazine on its website, members were informed of attorney Andrew Barroway’s plan to purchase the team from current owner Jeff Vanderbeek.
“Recently, the Club was able to arrange a significant infusion of debt capital ($30 million) from an investor that is interested in purchasing the the Club from Vanderbeek. We understand from League officials that the new investor, Andrew Barroway, is currently negotiating with Vanderbeek and thier expectation is that either Barroway or another ownership group will end up owning the team within the next 120 days or so.”
No price for the team is given nor is mentioned.
Barroway tried to buy the Philadelphia 76ers in 2011, according to Forbes.