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Report of Devils Sale False

The New Jersey Devils are not for sale.

Reports of team owner Jeff Vanderbeek attempting to sell the team are false. The Devils are expected to release a statement refuting claims Vanderbeek is searching for potential buyers.

Earlier today, Bloomberg News reported Vanderbeek hired investment bank Moag & Co. to send letters to perspective clients. Bloomberg credited an unnamed source in their report.

Vanderbeek bought the Devils in 2004 for $125 million. Vanderbeek, who spent 20 years at Lehman Bros., helped to increase the organization's overall value. With the opening of the Prudential Center, the Devils value increased to $218 million this year.