The New Jersey Devils are skating very close to bankruptcy, according to the New York Post.
The attendance-challenged, heavily indebted team missed its Sept. 1 loan payment, giving its lenders a breakaway chance to push the team into bankruptcy, a source with direct knowledge of the situation said.
… really not surprised here.
You have an arena where not many fans show up, the relocation to Newark, and the ridiculous contract they handed out to Ilya Kovalchuk among other things the team has done over the last few seasons. The team owes 15 percent more on their loans than they are worth.
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