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Report: NHL could loan money to cash-strapped Devils

"We can presume if the advance has not happened, it is going to happen soon," a source told the newspaper.

An NHL spokesman called the report "inaccurate" but didn't elaborate to The New York Post.

Zach Parise is a free agent after this season and the team's reported financial woes could put the Devils in a tough situation as to whether they can or are even able to re-sign him. In September of 2010, the Devils signed Ilya Kovalchuk to a 15-year, $100 million contract.

The team is reportedly on track to lose up to $20 million this season and currently sits seventh in the Eastern Confernce.

The newspaper also reports that the Devils have not been able to repay an $80 million principal payment that was originally due Sept. 1. The newspaper reports the lenders could place the loan in default but would not be able to place the team in bankruptcy until the end of the season.

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