SBD/June 19, 2013/Franchises

Devils Owner Vanderbeek Seeks At Least One Minority Partner, But Would Retain Control

Vanderbeek is considering several possible investors for the Devils
Devils Owner Jeff Vanderbeek is "closing in on bringing in at least one minority partner to ease the team’s financial burden," according to Tom Gulitti of the Bergen RECORD. BHP Markets co-CEO and Palos Merchant Bank Managing Dir Marc Wade is "among those who have had lengthy discussions with Vanderbeek." BHP is "a leading liquidity provider in the capital markets and alternative asset management." Along with Wade, as many as "three other investors could be involved," but Vanderbeek "would maintain a controlling interest." Despite setting Prudential Center records for average attendance and sellouts this season, the Devils "would be boosted by additional capital" following the lockout and missing the playoffs for the second time in three years. NHL Deputy Commissioner Bill Daly "refuted recent speculation that the league is worried about the team’s financial stability in New Jersey." Daly: “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." Gulitti cited sources as saying that, contrary to a published report, former Lightning co-Owner Oren Koules and former GM Brian Lawton are "not involved in any discussions with the team, its lenders or the NHL about taking on any kind of ownership stake in the Devils" (NORTHJERSEY.com, 6/18).
Return to top

Related Topics:

Franchises, NHL, New Jersey Devils

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug