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.”
Apr 21, 2015, 1:52 AM EDT
The Jets, and Winnipeg, feel the crush of defeat.
Apr 21, 2015, 12:55 AM EDT
Down 2-1 in the series.
Apr 21, 2015, 12:33 AM EDT
Another comeback victory for Anaheim.
Apr 20, 2015, 11:30 PM EDT
Apr 20, 2015, 10:54 PM EDT
Devan Dubnyk produces his first playoff shutout.
Apr 20, 2015, 10:37 PM EDT
It drew a two-minute roughing penalty.
Apr 20, 2015, 10:29 PM EDT
No call on the first collision.
Apr 20, 2015, 9:48 PM EDT
Will shifting locales produce interesting results?
Apr 20, 2015, 9:45 PM EDT
A close-to-perfect road effort from New York.
Apr 20, 2015, 9:41 PM EDT
Apr 20, 2015, 9:00 PM EDT
New Jersey’s only player who went under the knife this offseason.
Apr 20, 2015, 8:51 PM EDT
He needs some help, though.
Apr 20, 2015, 7:36 PM EDT
Sleepy start by Pittsburgh.
Apr 20, 2015, 6:43 PM EDT
His issue is an upper-body injury.
Apr 20, 2015, 5:30 PM EDT
But will he be around to see it happen?
Apr 20, 2015, 4:49 PM EDT
Things can change quickly in the playoffs.
Apr 20, 2015, 3:40 PM EDT
He did share some buzzwords though.
Apr 20, 2015, 2:30 PM EDT
Upper-body injury for the veteran forward.
Would McLellan like to coach McDavid? ‘You can have the best player and still not have the best team’
Apr 20, 2015, 2:21 PM EDT
Was he talking about the Oilers? Sharks?
Apr 20, 2015, 1:47 PM EDT
Corey Crawford will sit, once again, against the Preds.
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- Desperate Jets will ‘lean on’ their crowd tonight 20
- Here’s your Stanley Cup playoff TV schedule for tonight 16
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- Too little, too late: Rangers stifle Penguins for 2-1 series lead (90)