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.
Jul 2, 2015, 12:43 AM EDT
Some interesting players still need deals.
Jul 1, 2015, 11:15 PM EDT
All the signings from what promises to be a busy day.
Jul 1, 2015, 10:37 PM EDT
Quite the steal.
Jul 1, 2015, 9:40 PM EDT
Adding some veteran help.
Jul 1, 2015, 9:10 PM EDT
“Young guns” no more?
Jul 1, 2015, 8:08 PM EDT
It’s reportedly worth $7.5 million.
Jul 1, 2015, 7:04 PM EDT
Reunited and it feels pretty good.
Jul 1, 2015, 6:45 PM EDT
The contract pays the 25-year-old $600,000.
Jul 1, 2015, 6:36 PM EDT
Had 22 goals for the Ducks in 2014-15.
Jul 1, 2015, 6:34 PM EDT
It’s reportedly two-years, $3 million.
Jul 1, 2015, 6:25 PM EDT
Don Sweeney keeps making moves.
Jul 1, 2015, 6:16 PM EDT
The Rangers were a banged-up group in the playoffs.
Jul 1, 2015, 6:09 PM EDT
Was the first netminder taken at the 2011 NHL Entry Draft.
Jul 1, 2015, 5:34 PM EDT
Fresh off winning the Stanley Cup with Chicago.
Jul 1, 2015, 4:53 PM EDT
“We are here to build a team that is capable of winning a Stanley Cup. There are no shortcuts to go around doing that.”
Jul 1, 2015, 4:06 PM EDT
23-year-old had 18 points in 29 games last year.
Jul 1, 2015, 4:05 PM EDT
Moves on from Washington, the team that drafted him in 2004.
Jul 1, 2015, 3:38 PM EDT
Penguins GM considers his new winger in the same class as Alex Ovechkin and Steven Stamkos.
Jul 1, 2015, 3:28 PM EDT
So long, Boston University.
Jul 1, 2015, 3:19 PM EDT
29-year-old forward will look to get his career back on track.
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