Goldman Sachs Pitches Devils on TV-Backed Bond, Newsletter Says
October 07, 2011, 3:17 PM EDTBy Christine Harper
Oct. 7 (Bloomberg) -- Goldman Sachs Group Inc. is trying to persuade the National Hockey League’s New Jersey Devils to sell bonds backed by the team’s future television revenue, newsletter Asset-Backed Alert reported, without saying where it got the information.
The sale, which Goldman Sachs bankers proposed to the team this week, could raise between $75 million and $100 million, the report said today. The team’s officials are reviewing the pitch, according to the newsletter.
A sale may depend on whether Jeff Vanderbeek, the former Lehman Brothers Holdings Inc. executive who owns 47 percent of the team, can buy the stake held by co-owner Ray Chambers, the report said. Michael DuVally, a spokesman for Goldman Sachs in New York, declined to comment. Vanderbeek didn’t immediately respond to an e-mail seeking comment.
--With assistance from Jody Shenn in New York and Curtis Eichelberger in Washington. Editors: Steve Dickson, William Ahearn
To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net
To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net.
