The Devils Thursday finally announced the refinancing deal that is expected to solve the financial difficulties that have dogged the team under owner Jeff Vanderbeek.
No outside investor was announced, although it is believed that Vanderbeek will be joined by Canadian money. Vanderbeek is to remain the team’s owner, with his position strengthened, with Mike Gilfillan and Brick City Hockey bought out from their significant secondary share.
“Today’s announcement is good news for Devils fans though I fully recognize fans’ frustration with the work stoppage. Our future is now secure and we can be confident of continued on-ice success,” Vanderbeek said in a statement. “Our team has gone to the Stanley Cup Final 5 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.
“I am grateful to Mike Gilfillan and Brick City Hockey for our former partnership. Together we shared a passion that led to the building of the Prudential Center – truly a shining jewel of a facility and in my view one of the best arenas in the entire world. The Rock is a great legacy for which we will always be proud.”
The Devils have lived under the shadow of significant debt the past several seasons, with the NHL going so far as to advance the team future league-based revenue to keep creditors at bay.