After a few hours of haziness, the current situation surrounding the New Jersey Devils ownership is gradually coming into focus. Majority owner Jeff Vanderbeek has announced that he's not selling, nor is he interested in selling, his majority stake in the team. The same cannot be said for minority owner, Brick City.
From the Devils:
As Managing Member of the New Jersey Devils, it is not my desire to sell the team. My partner, Brick City, and I have different visions for the franchise. While Brick City has a right, under our partnership agreement, to explore a sale and Moag and Co. has been retained to assist in these effort, I anticipate maintaining a controlling interest.
Vanderbeek owns 50 percent of the team and since he's not interested in selling, he'll keep that majority stake no matter what happens with Brick City. Another owner, Peter Simon, is not selling his shares.
Brick City, the group headed by Mike Gilfillan and Ray Chambers, has disagreed with Vanderbeek in the past. According to Tom Gulitti, the NHL helped iron out issues between the two back in 2009.
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