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.