Wednesday, May 30, 2012
Gary Bettman confident Devils stable
By Katie Strang ESPNNewYork.com
NEWARK, N.J. -- Addressing the media in a news conference before Game 1 of the Stanley Cup finals, NHL commissioner Gary Bettman said he is optimistic the Devils' financial situation will be resolved within the next few weeks.
Bettman said that team owner Jeff Vanderbeek is close to refinancing the club's debt.
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"The New Jersey situation, as we understand it at its most up to date point, is that the club and Jeff Vanderbeek is working on both refinancing the debt on the club and equity raise," Bettman said. "He appears to be fully confident that he can pull this off in due course in the next few weeks."
"I've been in touch with the banks on a regular basis," Bettman added. "They seem to be on track."
When asked about a deadline for the team to refinance its debt -- several reports have claimed July 1 to be the target -- Bettman said that date is incorrect.
Bettman, who talked about a multitude of issues including, but not limited to, the current collective bargaining agreement set to expire in September, said the date is "after that," though he did not elaborate further.
While Vanderbeek continues attempts to stabilize the team, Devils co-owner Ray Chambers has reportedly been seeking to unload his 47 percent stake in the club.