Devils' Owner Turns Down Offer

Associated Press

The owner of the New Jersey Devils rejected an offer by financier Robert Brennan to buy the NHL team and keep it in New Jersey.

Brennan said Wednesday he offered to buy the team, which has been exploring a possible move to Nashville, Tenn., at "fair market value," an acknowledgment the cost might increase if the Devils win the Stanley Cup.

The offer was extended Tuesday to Devil owner John McMullen on behalf of ITB, a company Brennan chairs. The company owns and operates two New Jersey racetracks, Garden State Park and Freehold Raceway.

"He was firm in that respect, he has no interest in discussing the sale of the Devils with anyone," Brennan said.

A source said the offer was about $65 million and it would increase $10 million if the Devils won their first NHL title.

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