According to the New York Post, if Devils owner Jeff Vanderbeek fails to re-finance the team by a big August 14th deadline then the NHL plans to step in and freeze out the owner.
Vanderbeek says that he is close to a deal with a mystery investor to sell a portion of the team to raise money, he would keep majority control however. Some speculate on the credibility of that though since September when the Devils missed a big payment in September Vanderbeek has said he was close on deals many times, however each came up short.
To learn more check out the New York Post story below:
http://www.nypost.com/p/news/business/owner_be_damned_XgXuEUTpV1Ek0Xc8rl9MdI#ixzz1y7cwZn3F
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