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Change The Name To The New York Devils of Newark
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The New Jersey Devils play in the largest media market in America. They have an arena of recent vintage in which they're the primary tenants. They draw fairly well and their merchandise is popular. And they made it to the finals, which is always lucrative. So, how is it that the New York Post is reporting that the league is about to seize control of the franchise from owner Jeff Vanderbeek? He owes $77 million and is frantically trying to refinance, but the league, according to the Post, is losing patience. Vanderbeek has until August, and he claims to be close (again) to selling an interest to a "mystery investor," so we'll see. (New York Post)
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