 When the failure of his petroleum business left him unable to pay the lease at McNichols which was so unfavorable that the team never received any revenues from parking, concessions or advertising, Vickers sold the Rockies on July 12, 1978 to Arthur Imperatore Sr. whose intention was to keep the franchise in Denver before moving it east to the new arena at the Meadowlands Sports Complex which was under construction and expected to be completed by 1980.His imposition of the team's eventual transfer alienated many fans.Before he could complete the move to northern New Jersey, Imperatore sold the Rockies to Buffalo-based cable television magnate Peter Gilbert in a transaction that was unanimously approved by the NHL Board of Governors on February 10, 1981.