NEWARK, New Jersey (AP) — A person familiar with the negotiations says Josh Harris, owner of the NBA's Philadelphia 76ers, will buy NHL team the New Jersey Devils and the lease to their arena Thursday.

Attorneys for both sides were putting the final touches on the deal Wednesday that would allow Jeff Vanderbeek to sell his majority ownership to Harris, said the person, who asked not to be identified because neither party had announced the deal.

The Devils announced early Wednesday evening that they planned to hold a major news conference Thursday at 11 a.m. local time. The financially-strapped Vanderbeek has been looking for a buyer for some time. Harris emerged as the front-runner in the past week after a deal with a group led by Philadelphia attorney Andrew Barroway fell through.