NHL Rumors: New Jersey Devils Inch Closer to Financial Disaster

If any of you New Jersey Devils fans have a spare $80 million just lying around, owner Jeff Vanderbeek could sure use it right now. 

SI.com reports the team is months late on an $80 million debt payment to lenders. Venderbeek is now hoping for a late miracle to save the club from a league take over. 

NHL commissioner Gary Bettman has a veiled threat out that insinuates that is exactly what will happen if the debt is not cleared at the latest by mid-February. 

My Fox New York reports the whole ordeal hinges on securing a long-term deal for TV rights. The report does not paint a good picture for a deal to get done by the deadline, though. 

Apparently, the club has been shopping the deal with the help of Goldman Sachs to secure a contract with the MGG Network since last November and so far nothing has come of it. There will have to be a great deal of late-minute magic to save the franchise from league rule. 

A source tells My Fox that things are bleak for anything getting done. 

"

[NHL Commissioner Gary] Bettman basically told him to figure out a resolution by mid-February, or he'll do what needs to be done...There is radio silence out of Goldman [on the securitization]. 

"

The Devils are currently 24-17-2 and stand at 50 points and trail the Atlantic Division pace set by the New York Rangers at 27-10-4. 

One thing you cannot compete without is security. Players and facilities cost money and the Devils are in danger of having the league take over and see that their immediate future is dealt with fiscally. 

You can forget big name signings as the books will have to be addressed first, after that, the product on the ice can be worked out. 

If you want to see how a league takeover feels, you can ask Dodgers fans who have seen their club pass over some pricey talent as infrastructure of the club is taken care of. It is hardly the most exciting time for fans. 

Venderbeek is on the clock to save no less than the entire Devils franchise. 

Follow @gabezal