Via Pro Hockey Talk's Dhiren Mahibian, the Bergen Record's Tom Gulitti reports that the New Jersey Devils will lose money for the 2014-15 season...
Unlike the team's financial struggles under the Jeffrey Vanderbeek adminstration, however, the fact that the Devils are going to lose money this season is actually good news.
Gulitti reports that "new" owners Josh Harris and David Blitzer are spending a significant amount of money cleaning up the legal messes Vanderbeek left them, and they're also investing a good chunk of money in growing the Devils' "business brand," reestablishing ties with local businesses and significantly bolstering the team's hockey operations personnel:
[O]n the business side (non-hockey operations), O’Neil says the team had just 76 employees immediately following the sale. Blitzer said the number is “more than double” that now after O’Neil has spent the last year building up his department to put it in a position to be better able to grow the business of the Devils.
“You just didn’t have personnel there,” Blitzer said. “It wasn’t like anyone was doing anything negatively in that sense. They literally did not have positions filled that were entirely necessary to run a business like this. We kind of found that a little bit shocking in terms of how depleted it was at the time we went in.”
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