[JKidd]

Despite a report that the NHL was preparing to take over the Devils, the league said Monday that it feels the team’s ownership is making progress on stabilizing its financial situation.

“I don’t anticipate either the league having to take over the team, or the team having to file for bankruptcy,” NHL deputy commissioner Bill Daly said.

“We are working closely with the team’s current ownership and progress continues to be made toward a financial restructuring that will ensure the stabilty of the franchise going forward.”

This comes weeks after NHL commissioner Gary Bettman said he was hopeful Devils owner Jeff Vanderbeek would be able to finalize a deal to bring in a new partner and settle a missed debt payment estimated at around $80 million.

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