It wasn’t easy, but Jeff Vanderbeek has retained control of the New Jersey Devils and is now the sole owner of the club.
Per The Record, Vanderbeek was able to refinance the franchise’s substantial debt and buy out his partners.
“Today’s announcement is good news for Devils fans though I fully recognize fans’ frustration with the work stoppage,” Vanderbeek said in a statement.
“Our future is now secure and we can be confident of continued on-ice success. Our team has gone to the Stanley Cup Final five times in the last 17 years and following the most recent run to the Stanley Cup Final last year, we are excited about our future—for Jersey’s team and Prudential Center, home to the 2013 NHL Draft.”
What the news means for the Devils’ future payroll remains to be seen. New Jersey has a number of pending unrestricted free agents, including Patrik Elias, Travis Zajac, David Clarkson, Dainius Zubrus, and Marek Zidlicky.