For the first time in a while, the New Jersey Devils' ownership situation is clear and their financial issues have been worked out.

Devils Chairman Jeff Vanderbeek announced that the Devils' have refinanced the team's debt and that he has taken over as sole owner of the franchise, meaning he owns 100 percent of the club. It is also worth noting that Vanderbeek is also Chairman of Devils Arena Entertainment LLC.

Vanderbeek previously owned 53 percent of the team, but bought the remaining 47 percent from a group of minority owners that included Mike Gilfillan, Ray Chambers and Peter Simon.

There have been rumblings for years now that Vanderbeek wanted to sell the franchise and I think this news will put those rumblings to rest. Vanderbeek is committed to the Devils and whether he brings in any minority owners or partners down the road, he has made it clear that he wants to be a part of this franchise for the long haul.

Below is a statement released from Mr. Vanderbeek and the New Jersey Devils regarding the ownership situation, lockout and more.

"Today’s announcement is good news for Devils fans though I fully recognize fans' frustration with the work stoppage. Our future is now secure and we can be confident of continued on-ice success. Our team has gone to the Stanley Cup Final 5 times in the last 17 years and following the most recent run to the Stanley Cup Final last year, we are excited about our future -- for Jersey's team and Prudential Center, home to the 2013 NHL Draft.

I am grateful to Mike Gilfillan and Brick City Hockey for our former partnership. Together we shared a passion that led to the building of the Prudential Center – truly a shining jewel of a facility and in my view one of the best arenas in the entire world. The Rock is a great legacy for which we will always be proud."

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