Mar 28, 2014, 2:07 AM EDT
Big news on the future of the New York Islanders, per TSN’s Bob McKenzie:
NYI owner Charles Wang in talks to sell majority stake in NHL franchise. Nothing done yet, no telling if it gets done, but talks underway.
— Bob McKenzie (@TSNBobMcKenzie) March 28, 2014
Wang, 69, became part-owner of the Isles in 2000, then assumed majority control in 2004 after buying out partner Sanjay Kumar. The team has struggled both on the ice and financially since Wang’s been aboard, making the playoffs just two times while reportedly losing an estimated $10 million per season.
The Islanders are slated to move to Brooklyn’s Barclays Center beginning in the 2015-16 campaign, which would end their occupancy on Long Island, a place Wang has a long history with. He spearheaded the now-defunct Lighthouse Project — a proposal to transform the Nassau Coliseum and surrounding area into a modern suburban locale — which was voted down in 2011, two years after Wang said he regretted buying the Isles in the first place.
“If I had the chance I wouldn’t do it again,” Wang told Newsday at the time. “Never in my life, would I have anticipated this thing [Lighthouse Project] could be dragged out for seven, eight years.”
The timing of these proposed sale talks are interesting, as Wang and the Islanders are reportedly due to make a $75 million loan repayment at the end of this season.
It’s also worth noting this isn’t the first time claims have surfaced suggesting Wang was looking to sell the team. In 2012, the New York Post reported the Isles were available to be purchased… for an estimated $300 million.
Aug 29, 2014, 11:00 PM EDT
Can he fit in well enough to embrace this opportunity?
Aug 29, 2014, 10:10 PM EDT
Should they make a move or play hardball with free agents?
Aug 29, 2014, 9:30 PM EDT
Jeff Skinner was also on the ice Friday.
Aug 29, 2014, 8:00 PM EDT
Can’t top No. 4.
Aug 29, 2014, 6:29 PM EDT
“I’m sleeping with it tonight.”
Aug 29, 2014, 4:57 PM EDT
The Chicago Blackhawks let him walk.
Aug 29, 2014, 3:30 PM EDT
Team has needs at center.
Aug 29, 2014, 3:00 PM EDT
Played 20 career games with Boston.
Aug 29, 2014, 2:15 PM EDT
Was schedule for Ontario Superior Court Sept. 8
Aug 29, 2014, 1:18 PM EDT
A pair of hilarious ads to promote the game.
Aug 29, 2014, 12:33 PM EDT
Heading into a contract year, lots on his shoulders.
Aug 29, 2014, 11:05 AM EDT
Scored 135 goals and 299 points in four seasons with the London Knights.
Aug 29, 2014, 10:45 AM EDT
Spent the past two seasons in Edmonton.
Aug 29, 2014, 10:02 AM EDT
Their cap situation and defensive logjam might lead them to make a trade.
Aug 29, 2014, 9:00 AM EDT
“It’s amazing how an accident like this puts things in perspective.”
Aug 29, 2014, 8:00 AM EDT
They won the Presidents’ Trophy, but fell in the second round.
Aug 28, 2014, 10:46 PM EDT
Will one be named this season?
Aug 28, 2014, 9:33 PM EDT
The new coach wants the Penguins to ‘lessen the load.’
Aug 28, 2014, 8:21 PM EDT
It wasn’t even close.
Aug 28, 2014, 7:11 PM EDT
They have a lot of players on their roster with something to prove.
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