Jeffrey Vanderbeek

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Jeffrey "Jeff" Vanderbeek is the former owner of the New Jersey Devils, a professional ice hockey team in the National Hockey League. Vanderbeek, a New Jersey native and Devils season ticket holder since the late 1980s, became a minority owner when Puck Holdings, an affiliate of YankeeNets, purchased the team in 2000. In 2004 he bought the team outright and resigned his position as an executive vice president of Lehman Brothers,[1] which he joined in 1984.[2] He was ranked the ninth highest paid executive of 2002 by Business Week with pay totaling over $29 million.[3] Vanderbeek has been a strong proponent of the Prudential Center, which hosted its first New Jersey Devils hockey game on October 27, 2007.[4][5] He currently resides in Warren, New Jersey.

In 2012, Vanderbeek finalized a deal with the team’s lenders that will keep him in control of the franchise for at least two years.[6]

For the most part, Vanderbeek has left the Devils' day-to-day operations in the hands of general manager Lou Lamoriello.

In August 2013, a deal was reached where Josh Harris, owner of the NBA's Philadelphia 76ers, will buy a majority stake in the Devils for over $320 million. Vanderbeek will retain minimal ownership of the team after the sale.[7]

References[edit]

  1. ^ Caldwell, Dave (2004-03-03). "Wall Street Executive to Buy Devils". The New York Times. Retrieved 2006-11-15. [dead link]
  2. ^ Lehman Brothers Holdings, Form DEF 14A. Filed 2002-03-01. Retrieved on 2006-11-15.
  3. ^ Lavelle, Louis (2003-03-21). "Exec Pay: More Pain for CEOs". Business Week. Retrieved 2006-11-15. 
  4. ^ Brennan, John (2002-10-17). "Newark approves $200M for arena". The Record (Bergen County). 
  5. ^ Rotstein, Gary (2006-07-31). "$290M in funding tight, but doable, for arena". Pittsburgh Post-Gazette. Retrieved 2006-08-30. 
  6. ^ KOSMAN, JOSH. "Deal lets Devils owner stay in game". The New York Post. Retrieved 7 September 2012. 
  7. ^ Sielski, Mike (August 14, 2013). "New Jersey Devils Set to Be Sold". Wall Street Journal.