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Report: NHL prepared to take over Devils


Unless a buyer can be found, the New Jersey Devils are “likely to be taken over” by the NHL, according to a report by Forbes.

According to three sources, the NHL does not want the Devils to file for bankruptcy like the Phoenix Coyotes did in 2009. The Coyotes were recently sold for $170 million after going through an arduous lease renegotiation with the city of Glendale that kept taxpayers, players and fans in limbo for over three years.

Instead, the NHL would fund and operate the team while it sought a buyer. The Devils owe the league roughly $25 million and their payroll for the start of 2013-14 season is projected to be around $55 million.

The NHL, of course, just finally washed its hands of the Phoenix Coyotes. Will the league have to run another team now? There have been so many reports about the financial state of the Devils that it’s hard to say.

It was less than a year ago that owner Jeff Vanderbeek was reportedly able to refinance the franchise’s substantial debt and buy out his partners.

“Our future is now secure and we can be confident of continued on-ice success,” Vanderbeek said in a statement in January.

Apparently, that assertion was a tad optimistic.

As we passed along yesterday, the ownership group of the NBA’s Philadelphia 76ers – led by investment banker and majority partner Joshua Harris — is reportedly interested in buying the Devils.

More from today’s Forbes report:

The Devils have $230 million of debt and team owner Jeff Vanderbeek missed the first payment on a recently restructured bank loan. The team’s annual debt payment is around $15 million a year and in the past the Devils have already used prepayments of future revenue streams to pay bills. Andrew Barroway was poised to buy the hockey team and operating rights to the Prudential Center, but withdrew his offer within the past two weeks after getting a closer look at the team’s books.

Neither the Devils nor the NHL would offer a comment to Forbes on the situation.

WATCH LIVE: Lightning at Red Wings

Henrik Zetterberg, Steven Stamkos
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Mike Babcock’s reign with the Detroit Red Wings ended in another first-round defeat, yet it may be lost in time just how close that series was.

Yes, the Tampa Bay Lightning shut down the Red Wings to win Game 7 at home, but Ben Bishop deserves a ton of the credit. The Red Wings snagged the puck for much of the contest, just not enough to beat the big goalie.

While change is in the air in Detroit, the Bolts are largely the same squad that generated a nice showing in the 2015 Stanley Cup Final. We’ll get to see if the Red Wings gain a measure of revenge on NBCSN tonight, with home-ice advantage this time around.


After healthy scratch, Severson vows to play ‘next 80 games’

Jimmy Hayes, Damon Severson
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Damon Severson was a healthy scratch on Saturday.

It’s the last game he wants to miss this season.

“I had a good chat with a few people and just pretty much said, ‘I want to be in the next 80 games,’” Severson said, per The Record. “I sat out my game and that’s all I want to be out for for the year.”

Severson is one of the Devils’ most important young players. But this is also the 21-year-old defenseman’s sophomore season, and that’s when slumps can occur.

Hence, the early message he was sent by the coaching staff.

Severson is expected to be back in the lineup tonight when New Jersey hosts Nashville.

“He doesn’t have to be perfect,” coach John Hynes told reporters. “We’d just like to see him have a high compete level. We know he’s ready to go. We had a couple of good meetings with him. He’s in a good spot mentally. I know he’s ready to roll.”