Jeff Vanderbeek

Report: Devils owner close to deal with lenders


According to the New York Post, Devils owner Jeff Vanderbeek is on the verge of reaching a deal with lenders that would allow him to retain control of the club for at least two more years.

The proposed deal would buy Vanderbeek — who has been trying to scrounge up cash to pay off overdue loans — another two years to either refinance the team’s debt or sell the club, sources said.

The deal calls for combining the team’s debt with separate loans against Devils Arena Entertainment, which collects concession revenue from Prudential Center events, into a single $160 million loan.

The former Lehman executive dug into his own pocket to inject fresh cash into the team and raised enough from new investors to pay off a few lenders who do not want to participate in the proposed restructuring, sources said.

The Post reports the deal could still collapse, which could force the Devils into bankruptcy.

However, The Record explains why bankruptcy is unlikely for now:

A source said Vanderbeek has already worked the debt down to less than $35 million and raised roughly half of that remaining figure, leaving him needing about $18 million more to fully cover what the team owes the banks. If the lenders were to push the team into bankruptcy, they would likely recover much less than that. That gives them every reason to give Vanderbeek the time he needs to raise the rest of the money the team owes.

Obviously the lenders will be watching the CBA negotiations closely. According to Forbes, New Jersey is a money-losing franchise, so a lockout shouldn’t hurt the bottom line too badly. In fact, it may help it. And if the owners can score a better deal from the players, Vanderbeek’s prospects of repaying the debt will improve.

Hey, Tortorella called the Penguins whiners again

John Tortorella
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Don’t forget, the Blue Jackets – Penguins rivalry isn’t just about the bitterness between Sidney Crosby and Brandon Dubinsky; John Tortorella can fuel the fire, too.

Torts must not have been happy about the one-game suspension that Dubinsky received for cross-checking Crosby, as he channeled his vintage self in essentially calling the Penguins a bunch of whiners.

You can see from this glorious Sportsnet video, Tortorella said: “Pittsburgh whines enough for the whole league.”

(He also said the Blue Jackets weren’t going to whine by … whining. Good stuff.)

As Puck Daddy notes, this isn’t the first time Torts claimed that the Penguins are whiners.

Both the Blue Jackets and Penguins lost their games on Saturday, but clearly some eyes and ears were still focused on their last confrontation.

In case you’re wondering, the two teams next face off in Pittsburgh on Dec. 21.


Scary moment: Carlo Colaiacovo hospitalized with ‘dented trachea’


Buffalo Sabres defenseman Carlo Colaiacovo has experienced plenty of bad injury luck in his winding career, but Saturday presented one of his worst scares.

As you can see from the video above, Colaiacovo received a scary cross-check from Viktor Arvidsson of the Nashville Predators, who received a major penalty and game misconduct.

Sabres head coach Dan Bylsma said that Colaiacovo was hospitalized with a “dented trachea” yet is OK, the Buffalo News’ John Vogl reports.

Frightening stuff from an eventual 4-1 Sabres win.

PHT will keep an eye out for additional updates regarding Colaiacovo’s health (and a possible suspension for Arvidsson).

Comeback Kings: Gaborik pulls L.A. past Kane, Blackhawks

Jake Muzzin, Scott Darling

Patrick Kane set an American scoring record, and added another assist to make it more impressive, but the Los Angeles Kings just wouldn’t be denied.

In the end, Marian Gaborik‘s big night meant more than Kane’s; he scored the tying and then overtime game-winner, both assisted by Anze Kopitar, for a rousing 4-3 overtime Kings win.

Gaborik’s first goal:

And here’s video of the OT-GWG:

Noticing a theme tonight? Yeah, it’s been an evening in which it’s dangerous to assume a lead would stand.

With that, the Kings stick to the No. 1 spot in the Pacific Division, but Chicago shouldn’t feel all bad. The Blackhawks were able to piece together a decent run during their dreaded “circus trip.”

Patrick Kane’s streak hits 19 games, setting a new American record


When it comes to point streaks for U.S.-born NHL players, Patrick Kane now stands alone.

With a power-play goal early in Saturday’s Blackhawks – Kings game, Kane extended his streak to 19 games, breaking a tie with Phil Kessel and Eddie Olczyk (who finished with at least a point in 18 straight).

As of this writing, Kane has 11 goals and 19 assists during this 19-game streak. He also leads the NHL in scoring.

Bobby Hull’s 21-game point streak stands as the Chicago Blackhawks’ overall team record, by the way.