NEWARK, N.J. -- The new owners of the New Jersey Devils are keeping long-time executive Lou Lamoriello in charge of hockey operations, bringing in a new business team and committing to make the three-time Stanley Cup champions an organization looked toward as a model of excellence. Philadelphia 76ers owner Josh Harris and business partner David Blitzer on Thursday bought the Devils and the lease to the Prudential Center from Jeff Vanderbeek for $320 million. The deal was delayed roughly 15 minutes on Thursday morning because lawyers needed more time to sign off on the transfer of the financially strapped NHL team, which the leagues board of governors approved on Wednesday. "What I am interested in is absolute success on and off the ice, and having the highest quality people and bringing the fans a great experience and winning," said Harris, the co-founder of Apollo Global Management. Harris dispelled rumours that he might consider moving the 76ers to Newark. He has a lease at the Wells Fargo Center with Comcast Spectacor, which also owns the NHLs Flyers. "The Sixers are staying in Philly," Harris said. He added that he and Blitzer viewed the purchase of the Devils, who lost roughly $25 million in the past year, and the lease as a chance to turn around a struggling franchise. "Weve had a lot of success at identifying literally the best, highest-quality management teams and then bringing them into situations and letting them do their thing and holding them accountable," Harris said. "Other people may like to meddle in it. What we like to do in essence is agree what the vision is, what the business plan is and then resource it and allow people to do their jobs." Lamoriello has been the architect of the Devils fortunes since 1987 and thats not going to change. "I hope he stays here another 26 years," Blitzer said of the 70-year-old president and general manager. Lamoriello refused to say whether the new owners have given him a blank cheque, but added "they are committed to winning." Harris and Blitzer selected Scott ONeil as the Devils chief executive officer, a job he also has with the 76ers. The former Madison Square Garden Sports chief executive will work with both teams and Hugh Weber, the former New Orleans Hornets president, will be the everyday business leader in Newark. Harris and Blitzer, who is the senior managing director of the Blackstone Group, needed about a week to close the deal after talks with Philadelphia lawyer Andrew Barroway fell through. Harris said he had made inquiries about buying the team months ago but they were delayed because Vanderbeek has involved in talks with another suitor. Vanderbeek, who has been the majority owner of the Devils since 2004, will remain with the team as a senior adviser. He had mixed emotions after a 10-year run in which he led the effort to build "The Rock" but couldnt raise enough money to keep the team. "It certainly is bittersweet," said Vanderbeek, who refused to say whether he retained a minority share in the team. "There were other opportunities along the way to perhaps do things differently. But you know what? At some point you have to think about the future, the larger whole, and this was the right thing when it came to that." Harris said getting the lease to the Prudential Center was an essential part of the deal because concerts at what has been an under-used facility this past year will general money. The Devils won the Stanley Cup in 1995, 2000 and 2003, and won additional Eastern Conference championships in 2001 and 2012. They missed the playoffs in the recent lockout-shortened season and were stunned when 30-year-old superstar forward Ilya Kovalchuk decided to play in his native Russia. The Devils moved to New Jersey in 1982, playing at the Meadowlands after relocating from Colorado. "This is positive for this franchise, for this building and Newark," Commissioner Gary Bettman said. "There is terrific ownership with resources and talent with can take the team and the building to the next level." Harris and Blitzer continue a trend of rich financiers buying sports teams. Some may want a play thing or bragging rights. Others see their teams as legitimate investments, a way to diversify away from just stocks and bonds. While possession of a sports team isnt necessarily a great way to bring in consistent cash profits, owners can make money if they turn a team around and sell it at a profit years down the road -- exactly what private equity firms do with struggling companies. Some financiers are hands-on owners, such as Stuart Sternberg of the Tampa Bay Rays or John Henry of the Red Sox. 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GREEN BAY, Wis. -- As he lay on the ground, Ty Montgomery caught several passes thrown by wide receivers coach Luke Getsy from in front of and behind the young Green Bay receiver Sunday.Even on what was supposed to be a day off for him from practice, Montgomery didnt feel compelled to just stand around as his teammates worked.Finally back on the field after missing most of his rookie season in 2015 because of an ankle injury, Montgomery is playing catch-up as he tries to win back a roster spot.Im excited to be a part of this competition right now, Montgomery said after practice Sunday.The belated debut of Montgomery in training camp last week added to whats already been a highly competitive preseason battle among a deep pool of candidates at receiver.And the return of Montgomery may have come at a good time since the Packers are without Jeff Janis for at least this week.Janis suffered a broken right hand in practice Wednesday and didnt play Green Bays first preseason game two days later. The third-year pro watched Sundays practice with a cast on the injured hand.The indefinite loss of Janis, who had a breakout game in the playoffs last season, comes as the Packers still are waiting on veteran standout Jordy Nelson (knee) to be activated from the physically unable to perform list.After Nelson and fellow starter Randall Cobb, the Packers have several candidates making their case for the few remaining receiver spots to be filled for the start of the season next month.Its very, very competitive, but thats what you want, Montgomery said. You know for a fact that the guys that do make the team are going to be really good guys, going to be some playmakers.Montgomery hopes to be making plays again for Green Bay after his extended layoff from football.Taken in the third round of the draft, Montgomery played only the first six games last season before he sustained what turned out to be a severe ankle injury in a win over the Chargers on Oct. 18.Montgomery had surgery on the ankle in December and spent the entire offseason as well as the first two weeks of training camp in recovery mode.dddddddddddd.Though he felt a little rusty, Montgomery cherished the chance to play again in the 17-11 win over the Browns on Friday after he started practicing earlier in the week.Most volume (of work) Ive had since I had the surgery, including last week, too, Montgomery said. But it felt good to get back out there. I was excited.He had only one catch against the Browns, but the reception for 7 yards still was significant since Montgomery last caught a pass in a game 10 months ago as Green Bays No. 3 receiver.Its good to see him back, and hes looking like hes pretty healthy, too, Getsy said.And, as he showed Sunday with his drill work on the side as Getsy threw passes from different angles to the prone receiver, Montgomery isnt resting in the fight to win a job.I was just grateful to be back out there, he said about playing Friday. Its the first time its been taken away from me for that long.Game notes Backup QB Brett Hundley practiced Sunday. The second-year player had been sidelined since suffering an ankle injury in practice Aug. 1. Cobb and linebackers Clay Matthews and Julius Peppers also practiced after not playing Friday. Cobb (calf) and Matthews (ankle) were injured last week. S Morgan Burnett (back) didnt practice Sunday. First-year offensive lineman Matt Rotheram (bicep) had his left arm in a sling after playing Friday. ... The Packers placed long snapper Jesse Schmitt (broken hand) on injured reserve and signed undrafted rookie center Kyle Steuck, a Green Bay native. Its sweet, its really cool, kind of surreal, a dream come true, said Steuck, who played at Division II Northern Michigan. He was helping coach the football team at his alma mater, West De Pere High School, before the Packers worked him out Saturday. ' ' '