Report: Sale of Devils Imminent

The sale of the New Jersey Devils, the state’s only professional hockey franchise, will likely be made public Thursday morning, according to a report by CBS Sports.

The network quotes Tom Gulitti of The Record of Bergen County who said the team, which has played at the Prudential Center since 2007, will be sold for more than $320 million to Josh Harris, the co-owner of the Philadelphia ‘76ers.

Jeff Vanderbeek, who owns most of the franchise, will reportedly retain a minority stake in the team under the deal. He will, however , surrender his operating rights to Prudential to Harris’s group, according to a source close to the deal quoted by The Record.

Newark’s relationship with Vanderbeek has not always been smooth. Last year the administration of Mayor Cory Booker lost an ongoing court battle involving parking fees collected by the Devils as well as back rent the team owed to the city, Prudential’s landlord. 

Following the decision, the city promptly reduced the police presence normally in place during games and other events at what is one of the world’s most popular entertainment venues.

Residents and other elected officials have also complained that Vanderbeek reneged on promises to open up the Prudential facility to city recreation programs.