Kukla's Korner

Devil's Advocate

Devils Inching Closer to Bankruptcy

From Mike Ozanian of Forbes

“Vanderbeek already missed a $100 million principal payment that was due Sept. 1. He was given an extension by the lenders in order to try and raise enough money to buy out co-owners Ray Chambers and Mike Gilfillan, but they wanted no part of it. Vanderbeek can buy some time because technically the team cannot be forced into bankruptcy by creditors until after the Stanley Cup finals. But the longer he holds onto the team the bigger the debt problem because he is not making interest payments.”

The full article can be read here.

Filed in: New Jersey Devils, | Devils Advocate | Permalink
 

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About Devil's Advocate

I am an all around NHL fan. I love to watch Atlantic Division, and root for the Philadelphia Flyers. Just because I cheer for the Flyers, doesn’t mean I don’t keep up with the other teams in the division, specifically the New Jersey Devils. Devils Advocate will provide you with the most important Devils news, filled with my opinion about the selected topic.

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Email: pavlakd@rider.edu