Breaking News: Devils have new investor to get out of debt

According to multiple reports,  Devils owner Jeff Vanderbeek has finalized a deal with a new investor that will enable the franchise to get out of debt.

The story was first reported by Christopher Botta of SportsBusiness Journal.

Botta writes at SportsBusiness Journal:

The source said the deal would keep Vanderbeek firmly in charge as the majority owner, while minority owners Ray Chambers and his son-in-law, Mike Gilfillan—who owned a substantial stake in the Devils through their company, Brick City—are not expected to have future roles in the organization.

Botta reports that the identity of the partner will not be announced until he completion of the Devils’ season.