Aug 23, 2013, 10:29 PM EDT
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.”
Jul 7, 2015, 10:59 PM EDT
He was taken with the ninth overall selection.
Jul 7, 2015, 10:40 PM EDT
What kind of contract is he looking at?
Jul 7, 2015, 9:11 PM EDT
At one time he was regarded as a contender to be the Buffalo Sabres’ new bench boss.
Jul 7, 2015, 7:50 PM EDT
Both contracts are two-ways.
Jul 7, 2015, 6:30 PM EDT
That might take a while.
Jul 7, 2015, 5:19 PM EDT
The doctor, Kozlov, allegedly has a suspected head injury.
Jul 7, 2015, 4:07 PM EDT
Backes and Schwartz have one season left on their contracts.
Jul 7, 2015, 2:38 PM EDT
Was most recently an assistant under Randy Carlyle in Toronto.
Jul 7, 2015, 1:09 PM EDT
Coming off a 37-goal season.
Jul 7, 2015, 1:08 PM EDT
“He’s a reliable depth forward who we know is capable of contributing offensively at either level.”
Jul 7, 2015, 12:41 PM EDT
It’s been a long negotiation.
Jul 7, 2015, 11:59 AM EDT
Stepped in to play the final four games of the Stanley Cup Final.
Jul 7, 2015, 10:41 AM EDT
Milwaukee is trying to get a new arena built.
Jul 7, 2015, 10:05 AM EDT
Jarmo Kekalainen brings a local boy into the organization.
Jul 7, 2015, 9:00 AM EDT
“He’s obviously a great talent.”
Jul 7, 2015, 8:00 AM EDT
In ESPN’s The Body Issue, of course.
Jul 6, 2015, 11:22 PM EDT
“It happened pretty fast. All of a sudden two fingers are not working.”
Jul 6, 2015, 9:59 PM EDT
25-year-old defenseman struggled mightily last season.
Jul 6, 2015, 8:48 PM EDT
Connor McDavid’s running mate in Erie was the OHL’s leading scorer last season.
Jul 6, 2015, 7:25 PM EDT
Quebec City and Las Vegas have already expressed interest.
- Big money: Tarasenko signs eight-year, $60 million extension with Blues 75
- Blackhawks extend TVR through 2017-18 3
- Good start: McDavid scores five in Oilers scrimmage 33
- Caps ink Kuznetsov to two-year, $6 million extension 9
- Bruins sign three — Hayes, Connolly, and DeFazio 12
- Babcock expects Kadri to be ‘an elite player’ 15
- No expansion bid expected from Kansas City 37
- Leafs sign Matthias — one year, $2.3 million 17
- Report: Kopitar, Kings in ‘early stages of negotiations’ for extension 12
- Arbitration filed: Holtby, Nyquist & Stepan highlight list released by NHLPA 15
- Blockbuster: Kessel traded to the Penguins (131)
- Expansion process underway as NHL sends out applications (94)
- Big money: Tarasenko signs eight-year, $60 million extension with Blues (76)
- Sabres lock up O’Reilly through 2022-23 (74)
- Trade: Caps acquire Oshie from Blues for Brouwer, Copley and draft pick (73)