Devils Deny Bankruptcy Reports

new jersey devils bankruptcy 2012 nhl future odds

NEWARK, N.J. (AP) - The minority owners of the New Jersey Devils are finalizing a deal to sell their interest in the NHL team and give managing partner Jeff Vanderbeek some new partners.

The Devils disclosed the potential sale by Brick City LLC in a statement on Monday in which they said a report in the New York Post that the team was facing bankruptcy was inaccurate.

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Brick City LLC is the legal name for the Devils share owned by Ray Chambers and Mike Gilfillan, his son-in-law.

Quoting a source, The Post said team missed its Sept. 1 loan payment, giving its lenders a breakaway chance to push the team into bankruptcy.

The newspaper also said the team had a bad relationships with its banks.

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