The future of the New Jersey Devils is again up in the air. Its latest suitor backed away from his offer after getting a closer look at the team’s books.
Philadelphia lawyer Andrew Barroway has backed off his nonbinding offer — which would have paid creditors close to all of the $170 million they are owed.
Barroway, who submitted the offer months ago after lending the team $30 million, is still trying to work out a deal, sources said. Forbes first reported that the deal was on the rocks.
At the same time, according to the sources, Apollo Global Management’s Josh Harris has entered the fray and is talking with the ownership of the struggling team about buying a controlling stake.
Harris is among a handful of Devils suitors who are starting to do their due diligence on the team, sources close to the situation said.
Cash-strapped Devils owner Jeffrey Vanderbeek likely has until Sept. 30 to find a buyer for the team or risk having the league take it over.
Vanderbeek may have a rooting interest in Barroway because the lawyer would likely keep Vanderbeek as CEO, sources said.
Harris, the principal owner of the Philadelphia 76ers, brought in his own CEO when he bought that team.
The Devils, while a money-loser last season, could break even next year, sources said, thanks in part to the first full year of a new collective bargaining agreement.
The Post reported exclusively that the Devils had missed an April interest payment and risked defaulting on its new loan. The NHL lent the team money last year and wants a buyer in place before the new season begins.