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, bought a minority stake in the Devils 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 resides in Warren Township, New Jersey, having previously resided in South Orange, New Jersey.[6]

In 2012, Vanderbeek finalized a deal with the team’s lenders that allowed him to retain the franchise for at least two years.[7]

For the most part, Vanderbeek was a hands-off owner. He left the Devils' day-to-day operations in the hands of president and general manager Lou Lamoriello.

In August 2013, a deal was reached where Josh Harris, owner of the NBA's Philadelphia 76ers, bought controlling interest in the Devils for over $320 million. Vanderbeek remained as a minority owner after the sale.[8]

In December of 2014, Vanderbeek was hired by Kyle Franey, Director of Athletics at Somerville High School, as co-head football coach. Somerville High School, one with a storied past, had lost 22 games in a row. On October 2, 2015, Somerville won its first home game in nearly four years.

References[edit]

  1. ^ Caldwell, Dave (2004-03-03). "Wall Street Executive to Buy Devils". The New York Times. Archived from the original on April 23, 2009. Retrieved 2006-11-15. 
  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. ^ Caldwell, Dave. "HOCKEY; Wall Street Executive To Purchase Devils", The New York Times, March 3, 2004. Accessed October 21, 2015. "Vanderbeek said he had been a Devils season-ticket holder for about 15 years. Before he moved to Warren, N.J., Vanderbeek lived in South Orange, not far from the team training complex in West Orange."
  7. ^ KOSMAN, JOSH. "Deal lets Devils owner stay in game". The New York Post. Retrieved 7 September 2012. 
  8. ^ Sielski, Mike (August 14, 2013). "New Jersey Devils Set to Be Sold". Wall Street Journal.