Kukla's Korner Hockey
Entries with the tag: new jersey devils ownership
Following up to the post Paul made earlier about how the Cost To Buy The Devils could reach Well In Excess Of $300M the Devils Public Reltasions department has announced this evening that the Devils will be hosting a major news conference tomorrow (Thrusday, 15 Aug. 2013) at 11:00 a.m. EST.
According to Tom Gulitti at Fire Ice:
The official announcement will come in a Prudential Center news conference at a 11 a.m. Thursday that a controlling ownership share in the New Jersey Devils and the lucrative operating rights for the arena have been sold to a group headed by investment banker Joshua Harris, multiple sources told The Record.
An individual with knowledge of the sale agreement said Harris’s group will pay “more than $320 million,” a stunning price for a team that has been mired in debt.
Harris and his primary partner, David Blitzer, are also part of the group that purchased the Philadelphia 76ers for a reported $280 million in 2011.
From Pierre LeBrun of ESPN.com,
On the Sabres front, Pegula has agreed to buy the team for $189 million ($175 million in cash and $14 million in assumed liabilities). It’s good news for Sabres fans because the dude has deep pockets (he’s worth around $4.7 billion). But I was also told yesterday it doesn’t mean he’s going to spend to the cap every year. He’s rich because he’s made smart business decisions in his life. Buffalo remains a small market no matter who owns the team.
more, including what GM Darcy Regier told LeBrun this morning, and more Sabres and NHL ownership talk with LeBrun and colleague Scott Burnside.