Aug 14, 2013, 5:28 PM EDT
The New Jersey Devils, as well as the operating rights to the Prudential Center arena where they play, are being sold for “well in excess of $300 million,” an individual familiar with the process tells The Record’s Tom Gulitti.
In fact, the price that billionaire Josh Harris, already the principal owner of NBA’s Philadelphia 76ers, pays may be in excess of $320 million, according to the New York Times.
Whatever the exact price, Gulitti reports it will “cover the approximately $200 million in debts the Devils and Devils’ Arena Entertainment have accumulated and still leave [current owner Jeff Vanderbeek] with a significant surplus.”
There’s also this tidbit from the Times:
Harris is expected to ask Scott O’Neil, the former president of Madison Square Garden Sports, to run the Devils’ off-ice operations. Lou Lamoriello, the team’s longtime president and general manager, is expected to remain in those roles.
The NHL is expected to approve the sale tomorrow.
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