David Blitzer, Joshua Harris Acquire New Jersey Devils
DAVID BLITZER AND JOSHUA HARRIS ACQUIRE NEW JERSEY DEVILS
Newark, NJ August 15, 2013 David Blitzer and Joshua Harris today completed the purchase of the New JerseyDevils hockey team from the current ownership group controlled by Jeffrey Vanderbeek. The transaction includesthe teams long?term operating interest in the Prudential Center and related assets.
Scott ONeil, Chief Executive Officer of the Philadelphia 76ers, will take on the additional role of Chief ExecutiveOfficer of the New Jersey Devils and the Prudential Center. In this role, Mr. ONeil will lead the Devils businessoperations and work closely with Lou Lamoriello, the Devils President/General Manager. Mr. ONeil will alsooversee the Prudential Center and its broad entertainment offerings. Mr. Vanderbeek will work with the newownership group as a senior advisor.
Before becoming CEO of the 76ers earlier this year, Mr. ONeil was President of Madison Square Garden Sports,where he oversaw the business operations of three professional sports teams: the New York Rangers, the NewYork Knicks, and the New York Liberty.
I am very excited about the opportunity to become involved with the Devils, an organization with a rich heritageand tradition of excellence, a passionate fan base, and a world?class arena in the Prudential Center, said Mr.ONeil. I have long admired the on?ice success of this franchise under the guidance of Lou Lamoriello, and I lookforward to working with him to bring the fans and business community a future of sustained success.
Josh Harris and I are thrilled to own the Devils and, as someone who was born and raised in New Jersey, I amespecially excited by this unique opportunity, said Mr. Blitzer. Both of us have long admired the team for itspassionate fans who reflect the character and commitment to winning that are trademarks of this organization.We want to thank Jeff Vanderbeek for his leadership of the Devils organization and his great work in bringing thePrudential Center to Newark. The Rock is a first?class entertainment venue, which will continue to grow and bringamazing talent to the city. Newark is showing positive signs of growth, and the Devils and the Prudential Centerlook forward to supporting this progress. We will be committed stewards of this great franchise and arena as wework closely with city and state leadership to ensure the Devils, their fans and the Newark and greater New Jerseycommunity all share in the future success of their favorite team.
I've had the opportunity over the past week to spend a considerable amount of time with David Blitzer andJoshua Harris, said Mr. Lamoriello. There is no question in my mind about their commitment to the fans increating the best possible in?game experience, their commitment to winning, and their ultimate goal of bringingthe Stanley Cup back to the fans of New Jersey. Additionally, I have known Scott ONeil for more than 10 years andhave a tremendous amount of respect for the competency, work ethic and loyalty that he will bring to the NewJersey Devils and Prudential Center. I look forward to working with David, Josh, and Scott.
Today is an exciting day for the New Jersey Devils, the Prudential Center and the city of Newark, said Mr.Vanderbeek. David and Josh have the experience and passion needed to grow both the Devils and the Rock, and Ilook forward to working with them to ensure a smooth transition. I am confident they will carry on the greattradition of Jerseys Team. I am proud of our accomplishments this past 10 years most importantly, ensuringthe Devils have a state of the art arena to call home in the great state of New Jersey.
David Blitzer is a Senior Managing Director of Blackstone Group and Joshua Harris is Co?Founder of Apollo GlobalManagement.