Last season was a tough one on the ice for the New Jersey Devils, but a report in The New York Post indicates that things are much rockier on the accounting spreadsheets. Josh Kosman cited an anonymous source who reports that the team missed a $100 million Sept. 1 loan payment, which is a troubling issue because it could push the franchise toward bankruptcy.
The bankruptcy problems could also reportedly extend to the Prudential Center, the Devils’ four-year-old arena located in Newark. Devils Arena Entertainment is on the hook for $180 million in payments, according to Kosman and other reports.
The source told Kosman that the Devils are “blowing up,” which we will assume isn’t slang for “on a roll” in this instance. The report indicates that the Devils’ issues are multifaceted.
The first problem is that the team’s ownership is in a state of flux, even if majority owner Jeff Vanderbeek stays in the picture. Co-owner Ray Chambers has been trying to sell his share of the team for about a year but hasn’t had any luck so far. Kosman also writes that Vanderbeek doesn’t have a good relationship with lenders, which could exacerbate the issues.
“You have a bank group that wants nothing to do with Vanderbeek,” said a source, who added they have been upset with how late they have been with financial information.
Some lenders are already considering selling their stakes to vulture investors, the source said.
“This is going to be a very difficult situation.”
The third problem is truly outside the Devils’ hands: the NBA’s lockout could ruin the New Jersey Nets’ final season at the Prudential Center. A full lockout would knock out 25 percent of the building’s 161 scheduled events, which is even more problematic considering the fact that the Nets are reportedly the reason why the building earned its first profitable year. Either way, the Nets aren’t going to be a part of a long-term solution for the Devils’ alleged financial problems.
It all seems like a very messy situation for the Devils, who haven’t responded to the report at this time. Like many other ownership/bankruptcy scenarios, this looks to be a fluid situation, so we will keep an eye out for responses from the team and any other updates.
Mathew Barzal has agreed to terms with the New York Islanders on an eight-year extension, a move that keeps the franchise’s top forward under contract for the balance of his prime.
The deal is worth $73.2 million with an annual salary cap hit of $9.15 million, according to a person with knowledge of the contract. The person spoke to The Associated Press on condition of anonymity because the team did not announce terms.
Barzal has led the team in scoring, or been tied for the lead, every season since he became a full-time NHL player in 2017-18. He has 349 points in 411 regular-season and playoff games for the defensively stingy Islanders, who qualified for the postseason three consecutive times before an injury- and virus-altered last year.
“We feel recharged,” Barzal said recently. “We feel like everybody had good summers and worked hard, and we got that excitement back.”
Barzal, now 25, is coming off putting up 59 points in 75 games. The offensive star will now be asked to round out his game.
“I’m a fan because Mat has the ability to raise his game and to be a special player,” general manager Lou Lamoriello told reporters at the team’s practice facility on Long Island. “And now, with this contract and our faith in him, (it) puts that responsibility on him. We’re trusting that. It’s up to him to respond to that.”
OTTAWA, Ontario — Ottawa Senators goaltender Cam Talbot is expected to be out five to seven weeks with what the team called an upper-body injury.
The Senators initially called Talbot day to day with what they hoped was a minor injury. Instead he’s now expected to miss at least the first month of the NHL season.
Ottawa claimed goalie Magnus Hellberg off waivers from the Seattle Kraken upon announcing Talbot’s expected absence. Hellberg, who played for Sweden at the Beijing Olympics could split time with countryman Anton Forsberg while Talbot is out.
The Senators acquired Talbot from Minnesota during the offseason to make him their starter after the Wild opted against bringing him back along with Marc-Andre Fleury. Talbot, 35, had a 2.76 goals-against average and .911 save percentage this season.
Losing Talbot is a blow to the Senators, who also acquired winger Alex DeBrincat from Chicago and signed longtime Philadelphia Flyers captain Claude Giroux as part of a move toward contending and ending their playoff drought.
CHICAGO — Blackhawks forward Boris Katchouk will be sidelined for four to six weeks with a left ankle sprain, the team announced.
The 24-year-old Katchouk played almost 12 minutes during a 3-0 preseason loss to Detroit on Saturday night. He was acquired in a multiplayer trade with Tampa Bay in March.
The Blackhawks open the season on Oct. 12 at Colorado.
The team also said forward Jujhar Khaira is day to day with a right ankle injury.
ANAHEIM, Calif. — Ducks defenseman Urho Vaakanainen was taken off the Honda Center ice on a stretcher after he crashed into the end boards in the first period of Anaheim’s preseason game against the San Jose Sharks.
The Finnish defenseman was conscious and alert with full movement in his extremities at UCI Medical Center, the Ducks said.
The frightening incident occurred midway through the opening period when Vaakanainen smashed into the boards at a dangerous speed behind the Sharks’ net. Vaakanainen appeared to be concentrating on the pass he had just made to Derek Grant, who scored the Ducks’ opening goal on the assist.
Vaakanainen’s teammates came onto the ice and gathered around him as he was taken away on the stretcher.
The Ducks acquired the 23-year-old Vaakanainen from Boston last March in the deal that sent longtime Ducks defenseman Hampus Lindholm to the Bruins. After recording two assists in 14 games for the Ducks last season, Vaakanainen is attempting to win a top-six role on Anaheim’s defense this fall.