Report: 76ers ownership group interested in buying Devils

17 Comments

The ownership group of the NBA’s Philadelphia 76ers — led by investment banker and majority partner Joshua Harris — is reportedly interested in buying the New Jersey Devils.

CSN Philly has confirmed the report, originally from Fox 29’s Howard Eskin, with “sources with knowledge of the situation.”

Tom Gulitti of NorthJersey.com also received confirmation from “two sources with knowledge of the Devils ownership process.”

The Devils have been searching for a new owner for quite some time, and have reportedly been in negotiations with Philadelphia-based attorney Andrew Barroway — but, according to Gulitti, Barroway’s sale agreement expired at the end of July without a deal being completed.

New Jersey’s current financial situation is cloudy at best. Owner Jeff Vanderbeek has spent much of the last two years feuding with Newark mayor Cory Booker, dealing with reports of unpaid loans and facing rumors of potentially defaulting on said loans.

In June, Forbes’ Mike Ozanian reported that Vanderbeek was $230 million in debt and suggested the Devils could be sold through a prepackaged bankruptcy sale, like the Dallas Stars were in 2011.

As for the Philly group? Here’s more, from CSN’s John Gonzalez:

According to Forbes, Harris is worth $2.1 billion. In 2011, he and the current Sixers ownership group bought the team for a reported $287 million. As of January 2013, Forbes valued the Sixers at $418 million.

Along with Harris, the new investment group is led primarily by David Blitzer. Blitzer, one of the Sixers’ owners, graduated magna cum laude from the Wharton School of Business. Blitzer is a senior managing director and head of tactical opportunities for Blackstone, the world’s biggest private equity firm by assets.

According to Bloomberg, Blackstone reported $3.3 billion in revenue last year. Blitzer, who joined the firm in 1991 and started its European private-equity business in 2002, reportedly manages a $1.5 billion fund on behalf of Blackstone.

It should be noted that, according to Gulitti’s sources, the Barroway group is still working on trying to buy the Devils and that, according to Gonzalez, the Harris group is considering a purchasing of “one of at least three different sports-related entities.”

Video: Crosby to Dan Patrick – Subban fight ‘wasn’t as bad as it looked’

1 Comment

Listerine, the 2017 Stanley Cup Final, and a growing rivalry. Sidney Crosby and P.K. Subban battled it out at the highest level not so long ago, but some of that action looked worse than it actually was.

At least, that’s the message Crosby sent on “The Dan Patrick Show,” as you can enjoy in the clip above.

As a bonus, Crosby also discussed his favorite Stanley Cup traditions – hey, there can be traditions when something happens three times – and how Mario Lemieux inspires some especially creative ideas:

Rebuild on hold? Red Wings reportedly eye Girardi, Hainsey, Daley

Getty
12 Comments

For the first time in ages, the Detroit Red Wings missed the playoffs. To some, the sliver lining was that this might send a message to management to truly commit to a rebuild.

Perhaps GM Ken Holland & Co. aren’t quite ready for that.

Look, one or even a couple of potential free agent signings won’t disqualify the Red Wings from going younger. Still, the rumored defensemen they’re targeting aren’t exactly spring chickens.

Three names floating out there are Trevor Daley, Dan Girardi, and Ron Hainsey.

Daley was mentioned by The Athletic’s Craig Custance, MLive.com’s Ansar Khan, and the Detroit Free-Press’ Helene St. James. Khan and Custance both mention Hainsey and Girardi, too.

Even in one-case mentions, the “veteran” theme continues, with Brian Campbell‘s name coming up while forward Thomas Vanek seems like at least a remote possibility to return to Detroit.

Let’s look at the ages of the defensemen mentioned, noting that Daley is older than some might have expected.

Daley – 33
Girardi – 33
Hainsey – 36
Campbell – 38

In the case of Daley and Girardi, you could also argue that each blueliner also has a lot of “mileage” for their age. Girardi, in particular, plays the sort of grinding, shot-blocking style that might have accelerated his troubles with the Rangers.

As great as experience might be, even for a “final push,” this sends a troubling signal. In Mike Green (31), Jonathan Ericsson (33), and Niklas Kronwall (36), the Red Wings already have an aging group of defensemen. Kronwall and Ericsson are dealing with injuries that may hinder them for the remainder of their careers, too.

When you also note that Holland exposed 25-year-old goalie Petr Mrazek instead of 33-year-old Jimmy Howard, the picture isn’t especially pretty.

Maybe the Red Wings can have their cake (push for a playoff rebound) and eat it too (start to transition to youth), yet it’s not necessarily the aggressive move toward a rebuild that many likely hoped to see.

At least there’s time for Holland to prove these early worries wrong.

Note: In other Red Wings news, the team signed Ben Street to a one-year extension.

Blue Jackets sign Schroeder after trading for him

Getty
4 Comments

Not long after acquiring him in a minor trade from the Minnesota Wild, the Columbus Blue Jackets signed Jordan Schroeder to a two-year contract.

The team confirms that it is a two-way deal for 2017-18 and then becomes one-way in 2018-19.

Schroeder is guaranteed $350K for the first year of that contract and then $650K in 2018-19, according to the Columbus Dispatch’s Aaron Portzline.

The 22nd pick of the 2009 NHL Draft receives a fitting contract: he’s been a “tweener,” bouncing around the NHL and AHL. He hasn’t been able to make much of an impact, Schroeder at least provides some organizational depth.

That could come in handy, as Portzline indicates that Sam Gagner – not so surprisingly – is expected to garner a lot more attention this time around in free agency. Perhaps Schroeder could serve as insurance for Gagner?

NCAA star Spencer Foo chooses the Flames

4 Comments

NCAA standout forward Spencer Foo decided to sign with the Calgary Flames, as The Sports Corporation and team confirmed. The signing might not be official until free agency kicks off on Saturday, July 1, but he apparently made his decision.

After managing 25 points in each of his first two seasons with Union College, Foo exploded in 2016-17, racking up 26 goals and 62 points. You can see some of his highlights in the video above.

He didn’t go drafted, so this could be a case of another scorer blossoming late.

Foo is an Edmonton native, so playing close to home in Calgary likely factored into his decision. He was connected to the Edmonton Oilers in earlier rumors while MLive.com’s Ansar Khan indicates that his final choice came down to the Flames or the Detroit Red Wings.

Calgary is already classifying him as a RW. Perhaps he’ll be that long-desired fit for Johnny Gaudreau and Sean Monahan? There’s another positive aspect for the Flames, as this might help to soften the blow of giving up a bundle of assets in the Travis Hamonic deal.

The Sports Corporation tweeted out a photo of Foo, 23, in a Flames jersey: