The New Jersey Devils will hold a press conference Thursday at Prudential Center when they reportedly will announce the sale of the franchise and the rights to operate the arena to a group headed by investment banker Joshua Harris.
Tom Gulitti of The (Bergen) Record reports Harris' group will pay "upwards of $320 million" for the franchise and arena rights, and that outgoing owner Jeff Vanderbeek will retain a small ownership stake and a role in the organization.
Devils CEO, president and general manager Lou Lamoriello, who has been with the franchise since 1987 and built three Stanley Cup-winning teams, is expected to stay.
Harris and his primary partner, David Blitzer, are part of the group that owns the NBA's Philadelphia 76ers, which they bought from Comcast Spectacor in 2011.
