Skip to content

Report: Wang ‘furious’ over report he’s exploring sale of Isles

Mar 28, 2014, 1:20 PM EDT

From SportsBusiness Journal’s Chris Botta, after it was reported late last night by TSN’s Bob McKenzie that Islanders owner Charles Wang was exploring a sale of his majority share in the franchise:

With the Isles preparing to move to Brooklyn in 2015 to play in the Barclays Center, there has been speculation that Nets owner Mikhail Prokhorov could be a potential purchaser of the hockey club. However, a spokesman for the Russian billionaire relayed to ESPNNewYork.com the same message from 2011, when Prokhorov apparently said he had “no interest in purchasing another team at this time.” (He said something similar in 2012.)

  1. vbcaps - Mar 28, 2014 at 1:29 PM

    You have a report about someone being “furious” over a report?

    Title cheap shot ;)

    • Jason Brough - Mar 28, 2014 at 1:38 PM

      Yeah, and get a load of this: My best friend’s sister’s boyfriend’s brother’s girlfriend heard from this guy who knows this kid who’s going with the girl who saw Wang pass out at 31 Flavors last night.
      I guess it’s pretty serious.

      • chicagobtech - Mar 28, 2014 at 2:31 PM

        I hate it when Wang’s pass out. It’s no fun for everybody involved.

      • 950003cups - Mar 29, 2014 at 1:49 PM

        Prokhorov ain’t buying no NHL team. As a matter of fact, he is facing the possibility of losing ownership of the Nets when he moved the parent company out of the country to Russia over the new Obama threat of freezing russian company’s assets in the USA over the while Crimera situation.

        Another reason I highly doubt he’ll buy an nhl team is because the KHL is considered the pride of Russia. He had the chance to buy the Devils when they had Kovalchuk. He declined.

        I wish he did buy it then. Kovalchuk would never have been able to “retire”.

        But I do believe 150% that Wang wishes he could sell the franchise. His land grab scheme is finished. He can’t afford to lose anymore money on the Islanders.

        My guess is that he’ll move them to Brooklyn, and as soon as they gain value, we may see Ratner buy a majority of the Isles with Prokhorov as a 30% owner.

  2. jpelle82 - Mar 28, 2014 at 1:35 PM

    is he mad because its not true or because he didnt want anyone to know?

    • gaborik104life - Mar 28, 2014 at 1:59 PM

      It seems to be the same source for both pieces of information. Should we take one to be true than the other should be as well. Thus Wang and an unknown are discussing a deal but there is awhile to go before it gets serious and Wang is mad because he did not want anyone to know at least at this point in negotiations.

      • nothanksimdriving123 - Mar 28, 2014 at 4:24 PM

        Indeed. Do note a few words were not mentioned: untrue, false, denial.

    • rbbbaron - Mar 28, 2014 at 2:10 PM

      Don’t know how serious these ‘negotiations’ are, but if it’s broadcasted that the guy is trying to unload the franchise, then that likely hurts his bargaining position

      • 7mantel - Mar 28, 2014 at 2:32 PM

        It could also bring more players into the game!

      • rbbbaron - Mar 28, 2014 at 2:46 PM

        Yeah– “hey, who wants to put down a few hundred mil to lose 10mil/yr?…One at a time please!”

      • 7mantel - Mar 28, 2014 at 2:53 PM

        Business men with with that kind of money love to own a sports team ! Don’t kid yourself, they’ll be negotiating deal !

      • rbbbaron - Mar 28, 2014 at 3:38 PM

        If you really think Wang is prepared to lose a $hi#-ton more money, then of course a deal can be arranged

  3. nobandwagoners - Mar 28, 2014 at 3:14 PM

    But if things are structured properly, particularly where an owner has a number of businesses, losses from the NHL team could be offset against a more profitable business. And in the interim, hopefully from the owner’s perspective, the NHL team as an asset could still increase in value notwithstanding the team isn’t a money maker per se – limited number of teams, etc. That’s why you pay tax and corporate lawyers to be involved from the get go.

    • chicagobtech - Mar 28, 2014 at 3:48 PM

      I have the perfect example for your scenario:

      Wirtz Corporation is the parent organization of the Blackhawks. When the team was losing money (even the last few years, if you can believe it) it was the other divisions of Wirtz Corporation that absorbed the losses. Overall the corporation made money.

    • rbbbaron - Mar 28, 2014 at 3:58 PM

      Ah yes, using the Islanders as a tax write-off. Sit tight Isles fans- if you thought the last 20+ years of irrelevance was bad, just wait til the new management comes in with the perverse incentive of having your team lose money!

  4. frankiesweep - Mar 28, 2014 at 4:19 PM

    Grrrrrrrrrrrrrrrrrrrr

  5. peter845 - Mar 28, 2014 at 4:31 PM

    Come on! His name is “wang”… :))))

  6. joey4id - Mar 28, 2014 at 5:26 PM

    Waaa! “wang the dog”

  7. whittle79 - Mar 30, 2014 at 10:00 AM

    Wang you are a tool.

Top 10 NHL Player Searches