Aug 22, 2000

Purchase of New Jersey Devils Completed

East Rutherford, New Jersey August 22, 2000 – Puck Holdings, an entity affiliated with the YankeeNets organization announced today that it had completed the purchase of the 2000 Stanley Cup Champion New Jersey Devils.

With the completion of this purchase, the New Jersey Devils are now part of the YankeeNets organization, which includes the New York Yankees and the New Jersey Nets. The Devils’ ownership now includes a small number of limited partners in addition to the over 50% ownership held by Puck Holdings and YankeeNets.

Under the direction of Dr. John Mc Mullen and Lou Lamoriello, the Devils have been one of the most successful and well run franchises in the NHL. The team was founded when Dr. Mc Mullen purchased the Colorado Rockies franchise in l982 and moved it to New Jersey, where it was renamed The New Jersey Devils. Now considered one of the NHL’s elite franchises, at 396-275-100, the Devils owned the league’s second best record in the ninety’s. The club has posted nine consecutive winning seasons, including five 100-point seasons, three consecutive Eastern Conference regular-season titles (1996-97 through 1998-99) and the 1994-95 and 1999-2000 Stanley Cup Championships. The Devils also owned the ninety’s second best winning percentage among the New York metropolitan area’s nine professional sports teams.

Mr.Lamoriello, who has just completed his 13th year with the Devils organization, will remain as CEO/President and General Manager of the team.

Future plans for the YankeeNets organization include construction of a new arena in Newark for the Devils and the Nets.