According to Forbes, the Devils are likely to be taken over by the NHL when training camp gets underway next month.
At that point teams have to start cutting payroll checks for players and sitting at 230 million in debt the Devils can't afford to do that. The NHL plans to operate the team until an owner could be found according to the report. Recently, a group led by Andrew Barraway seemed poised to buy the financially struggling team but withdrew their bid after getting a closer look at the teams books.
For more on this, check out the Forbes article below: