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Will Smith no longer a part owner of an NHL franchise


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Joshua
August 24, 2022  (10:49)
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Will and Jada Pinkett-Smith were thinking they bought into the Philadelphia 76ers as investors. But in reality, they hadn't, thanks to a misleading money manager.

The New Jersey Devils are owned currently by the Harris Blitzer Sports Entertainment Group, the original idea of the group in 2011 was to buy a stake in the Philadelphia 76ers, Will Smith's favorite team.
The "group" itself didn't even invest in specific teams, and unbeknownst to Michael Rubin, who owned 10% of the stake in the company that owns the New Jersey Devils, HBSE.
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Rubin sold his stake in June as a result of Fanatics getting into Sportscards and Sports Betting.
I imagine they didn't know they were invested in the New Jersey Devils as a result of HBSE's shadiness.
David Blitzer sent his own comments when it came to the Devils, which is weird enough in itself that the two main owners sent two different comments. Blitzer called him an «incredible friend and business partner» who «helped grow the New Jersey Devils and Prudential Center.»

I guess, the moral of the story is don't let a money manager do what he wants with the money.
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Will Smith no longer a part owner of an NHL franchise

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