EDISON - The New Jersey Devils refuted a New York Post report yesterday that said the team was on the verge of bankruptcy after missing a $100 million loan payment.

Team owners released a statement yesterday denying any reason for concern.

Devils Arena Entertainment owes just under $180 million to creditors according to the NY Post report. But team officials say refinancing will be completed soon and the Devils will get back on positive financial footing.

Devils management is very optimistic on the upcoming season, adding that new season ticket sales are up 130 percent over last year.