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Private equity executives acquire New Jersey Devils

16 Aug 2013

devils puckPrivate equity executives David Blitzer and Joshua Harris have acquired the New Jersey Devils NHL franchise for what was reported to be more than $320m.

Blitzer is a senior managing director of Blackstone, while Harris is co-founder of Apollo Global Management.

The acquisition of the Devils from an ownership group led by Jeffrey Vanderbeek includes the team’s long-term operating interest in the Prudential Center and related assets.

The NHL also announced that CEO of the NBA’s Philadelphia 76ers will tak eon the additional role of CEO of the New Jersey Devils and the Prudential Center.

Devils general manager Lou Lamoriello said, “I’ve had the opportunity over the past week to spend a considerable amount of time with David Blitzer and Joshua Harris.

“There is no question in my mind about their commitment to the fans in creating the best possible in-game experience, their commitment to winning, and their ultimate goal of bringing the Stanley Cup back to the fans of New Jersey.

“Additionally, I have known Scott O’Neil for more than 10 years and have a tremendous amount of respect for the competency, work ethic and loyalty that he will bring to the New Jersey Devils and Prudential Center.”

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