The NHL approved the sales of three franchises Tuesday, including the Stanley Cup champion New Jersey Devils.
John McMullen completed the $175 million transfer of the Devils to Puck Holdings LLC, an affiliate of YankeesNets, whose principal owners are George Steinbrenner, Lewis Katz and Ray Chambers. The company also owns baseball’s New York Yankees and the New Jersey Nets of the NBA.
Also approved were the sales of the Colorado Avalanche and New York Islanders.
The Avalanche was sold to Stanley Kroenke, a real estate developer and heir to the Wal-Mart fortune. Kroenke also purchased the NBA’s Denver Nuggets and Pepsi Center in a $450 million deal with Liberty Media last April.
Computer Associates executives Charles Wang and Sanjay Kumar purchased the Islanders for an estimated $190 million from Howard and Edward Milstein and Steven Gluckstern last April.
