According to the Post, the missed payment totaled nearly $3 million and puts Devils Arena Entertainment, which owns the team and the Prudential Center, in a precarious financial situation. The Post reports Devils Arena still owes lenders roughly $170 million after restructuring the team's debt and buying out the rest of Vanderbeek's partners in December 2012.
Vanderbeerk reportedly only has this summer to make up for the missed payment, which was a byproduct of the NHL lockout and the Devils missing the playoffs, according to the Post. The NHL and Vanderbeek are hoping to sell a minority stake in the team for $20 million to help alleviate the financial issue, the Post said.
According to the paper, the league already lent the Devils in roughly $25 million and recently advanced the team an additional $5 million in licensing and revenue sharing. The loans reportedly give the league the right to approve any major financial decision made by the ownership group.