76ers owner bidding for the Devils

NEWARK, N.J. - A person familiar with the negotiations says several groups are vying to buy the financially strapped New Jersey Devils, and a deal should be completed by the start of the NHL season.

The source spoke to the Associated Press and requested anonymity because the negotiations between Devils owner Jeff Vanderbeek and the groups are still active.

76ers owner Josh Harris heads one group trying to buy the three-time Stanley Cup champions and Calgary billionaire Bill Gallacher is another, although the source said multiple groups are bidding on the deal that includes the operating rights to the Prudential Center.

The team will not relocate, the source said, adding that Vanberbeek will retain a minority ownership with the Devils.

The NHL said it has no interest in taking over the team, commissioner Gary Bettman said Thursday after a news conference in New York to promote two outdoor games at Yankee Stadium.

Forbes reported that the Devils have $230 million of debt and that Vanderbeek missed the first payment on a recently restructured bank loan. Vanderbeek seemingly was close to selling the package to a group headed by Philadelphia attorney Andrew Barroway, but the deal fell through.