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NEWARK, New Jersey (AFP) – Josh Harris, already the owner of the NBA’s Philadelphia 76ers, has teamed with David Blitzer to acquire the NHL’s New Jersey Devils.

Blitzer and Harris completed the purchase of the club on Thursday from the current ownership group controlled by Jeffrey Vanderbeek.

The transaction includes the team’s long-term operating interest in the Prudential Center and related assets.

According to The Record newspaper Harris, an investment banker, and his group paid more than $320 million to purchase the financially-strapped franchise.

“Josh Harris and I are thrilled to own the Devils and, as someone who was born and raised in New Jersey, I am especially excited by this unique opportunity,” Blitzer said in a statement.

“Both of us have long admired the team for its passionate fans who reflect the character and commitment to winning that are trademarks of this organization.”

Scott O’Neil, Chief Executive Officer of the 76ers, will take on the additional role of Chief Executive Officer of the New Jersey Devils and the Prudential Center.

In this role, O’Neil will lead the Devils’ business operations and work closely with Lou Lamoriello, the Devils’ president and general manager.

Photo Credit: AFP/Andy Marlin
Photo by skpy/ CC BY-SA 2.0

Reprinted with permission from Alternet

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