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Bidding On The Devils

from Tom Gulitti of the Record,

The Devils’ ownership saga took another turn Wednesday with word that the owners of the NBA’s Philadelphia 76ers are now involved in the bidding.

The interest by the 76ers ownership group, which is headed by investment banker Josh Harris, was first reported by WIP radio in Philadelphia and confirmed to The Record by two sources with knowledge of the Devils ownership process. One source said that Harris’ group became involved after a sale agreement with a group headed by attorney Andrew Barroway technically expired last month without a deal being completed.

Coincidentally, Barroway was involved in a group that made a failed bid to buy the 76ers before Harris’ group made the purchase.

Barroway’s group is still heavily involved in attempting to buy the Devils, the source said, and already has gone far down the road in reaching deals with the NHL and lenders. According to a Forbes report in late June, Barroway’s group already loaned the Devils $30 million to help solidify their financial situation and cover pension and escrow payments.

continued

Filed in: NHL Teams, New Jersey Devils, | KK Hockey | Permalink
 

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About Kukla's Korner Hockey

Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com

 

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