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Mike Gifillan, Brick City Owner, Releases Statement

Here is the statement from Mike Gifillan, co-owner of Brick City, about his company's willingness to sell their stock in the New Jersey Devils.

"Brick City has exercised its contractual rights under its partnership agreement with Jeff Vanderbeek to cause a sale of the entire team and arena rights, subject to certain terms and conditions. We are at the beginning stage of this process and Moag and Company has been retained to assist in those efforts.

"Our goal was to use professional sports as a catalyst for economic development in Newark by constructing a state of the art arena for the teams as well as for concerts and family shows.

"Brick City feels we have accomplished that objective with our partner Jeff Vanderbeek.

"The arena and the teams playing here have also attracted more people to come back to the city in an ongoing effort to restore pride, sports, arts, culture and business to this beautiful city."

Thanks to Tom Gulitti of The Bergen Record for providing the quote.