Aug 23, 2013, 10:29 PM EST
In June of 2012, the New Jersey Devils were only two wins away from winning the Stanley Cup.
In August of 2013, amid financial turmoil, the Devils were sold to a group headed by Josh Harris, also the principal owner of the Philadelphia 76ers in the NBA.
The financial stability of the franchise had been in question for a while, with the team’s former owner Jeff Vanderbeek having to restructure the organization’s debt of roughly $78 million.
Vanderbeek had gained sole ownership of the Devils, according to reports that surfaced in January, prior to the agreement of a collective bargaining agreement between the league’s owners and the NHL Players’ Association.
The struggles continues as recently as June, when a report came out that the Devils were at risk of defaulting on loan.
Naturally, the NHL was quick to say that the team’s future in Newark was not in question.
“Despite recent reports to the contrary, which are inaccurate, we are not concerned about the Devils’ future, or the franchise’s ability to achieve long-term success in Newark,” NHL deputy commissioner Bill Daly wrote in an email to The Record.
But enough about the past. The purchase of the Devils by the Harris group could now give the franchise some financial stability moving forward.
The Devils, with three Stanley Cup championships, will now try to turn their attention to building a winning hockey club again, this time under now ownership.
“Everyone wants to win but not everyone knows how,” Devils general manager Lou Lamoriello told reporters during a press conference on Aug. 15, when the sale was made official.
“They’re creative, they’re intuitive and they want to get an edge in every way they can.”
Nov 27, 2014, 9:26 AM EST
The hit generated a five-minute major and game misconduct.
Nov 27, 2014, 8:18 AM EST
Turkey Day’s assortment of links.
Nov 27, 2014, 1:45 AM EST
Callahan and Stamkos lead the way in win over Rangers.
Nov 27, 2014, 12:40 AM EST
Avs fall 3-2 to the Blackhawks.
Nov 26, 2014, 11:55 PM EST
Returned after missing four games due to injury.
Nov 26, 2014, 11:05 PM EST
The Pittsburgh captain reaches point No. 800 in the win.
Nov 26, 2014, 10:20 PM EST
Scores his seventh of the season.
Nov 26, 2014, 9:45 PM EST
Also touches on Martin St. Louis’ return to Tampa Bay.
Nov 26, 2014, 9:08 PM EST
Appeared to hurt his left shoulder. Team calling it an upper body injury.
Nov 26, 2014, 8:42 PM EST
The Winnipeg forward was tossed from the game.
Nov 26, 2014, 8:35 PM EST
Has the game’s opening goal tonight.
Nov 26, 2014, 8:20 PM EST
Gets a double-minor on the play.
Nov 26, 2014, 8:10 PM EST
Spent 13 seasons in Tampa Bay.
Nov 26, 2014, 8:05 PM EST
Opened the scoring for Tampa Bay.
Nov 26, 2014, 7:45 PM EST
Expected to join the Blues for practice on Friday.
Nov 26, 2014, 7:00 PM EST
Replaced by Andre Benoit.
Nov 26, 2014, 6:30 PM EST
Was hurt during Tuesday’s practice.
Nov 26, 2014, 5:31 PM EST
Two teams meet for the second time this season.
Nov 26, 2014, 5:12 PM EST
After an injury to Brian Elliott.
Nov 26, 2014, 5:00 PM EST
Yappy Lappy was at it again.
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