76ers owners buy N.J. Devils hockey franchise
The sale of the New Jersey Devils is complete and the new owners are no strangers to Philadelphia and the sports market.
Sixers' owners Joshua Harris and David Blitzer made two things very clear Thursday -- they're keeping the Sixers in Philly and keeping the Devils in Newark. Harris wouldn't go into the specifics of the financial deal but says he doesn't see a conflict in owning bordering franchises.
"I love hockey in New Jersey, I love the Devils, and I love the Sixers in basketball," Harris said. "I don't see a lot of conflict there honestly. It's two separate situations."
Harris and Blitzer completed the purchase of the Devils from the ownership group controlled by Jeff Vanderbeek and Blitzer says that means turning around the fiscal situation.
"I don't think there's a big secret that the team has had too much debt on its books and that's created a lot of noise from a public relations standpoint," Blitzer said. "Fans read that."
The transaction includes the team's long-term operating interest in the Prudential Center and related assets. Lou Lamoriello stays on as Devils president and general manager and Scott O'Neill, chief executive officer of the 76ers, will take on that role with the Devils.