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.”
Mar 7, 2014, 4:51 PM EST
Click for the video of the NHL’s explanation.
Mar 7, 2014, 4:00 PM EST
Plus five NHL games to watch this weekend.
Mar 7, 2014, 2:49 PM EST
News and notes from around the blue paint…
Mar 7, 2014, 2:35 PM EST
Failed to “turn on the charm,” apparently.
Mar 7, 2014, 1:24 PM EST
More praise for them on Thursday after previously calling them the best team in the NHL.
Mar 7, 2014, 12:58 PM EST
“I thought he was real good.”
Mar 7, 2014, 12:50 PM EST
Hosting the Isles at the Saddledome.
Mar 7, 2014, 12:07 PM EST
Click to see which teams could be most impacted.
Mar 7, 2014, 11:47 AM EST
In related news, Philly leads the NHL in penalty minutes.
Mar 7, 2014, 11:33 AM EST
But Jeff Vinik couldn’t sway him.
Mar 7, 2014, 11:30 AM EST
It’s not looking good in DC.
Mar 7, 2014, 11:17 AM EST
Matt Moulson set to make his Minnesota debut.
Mar 7, 2014, 9:45 AM EST
It’s been a rough few days for Mike Gillis.
Mar 7, 2014, 9:07 AM EST
The Capitals have waited a long time for him.
Mar 7, 2014, 8:15 AM EST
That and the rest of the links to start your day.
Mar 7, 2014, 1:34 AM EST
Ugly start for Vancouver vs. Dallas.
Mar 7, 2014, 1:23 AM EST
Worth staying up late for East Coast hockey fans.
Mar 7, 2014, 12:41 AM EST
He did it with style, too.
Mar 6, 2014, 11:32 PM EST
They might want to stay off of Twitter.
Mar 6, 2014, 10:50 PM EST
He should provide commentary to as many Vancouver games as possible.
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