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.
Mar 29, 2015, 1:40 AM EDT
Vancouver leads L.A. by three points in the Pacific Division.
Mar 29, 2015, 1:05 AM EDT
Vancouver creates breathing room in the Pacific Division.
Mar 28, 2015, 11:20 PM EDT
The Wild defeated the L.A. Kings 4-1.
Mar 28, 2015, 10:50 PM EDT
Max Pacioretty scored the winner.
Mar 28, 2015, 10:15 PM EDT
Toronto won for just the sixth time in 34 games.
Mar 28, 2015, 9:30 PM EDT
Collided with Cody Goloubef in the first period.
Mar 28, 2015, 9:15 PM EDT
He allowed two goals on nine first period shots.
Mar 28, 2015, 8:55 PM EDT
Finished off a nice passing play by Jagr and Huberdeau.
Mar 28, 2015, 8:15 PM EDT
Ottawa’s starter tested early.
Mar 28, 2015, 7:45 PM EDT
The Pens defenseman will remain in hospital overnight.
Mar 28, 2015, 6:30 PM EDT
He appeared in eight games with Columbus this season.
Mar 28, 2015, 6:00 PM EDT
It’ll cost him $3,897.85.
Mar 28, 2015, 5:40 PM EDT
Detroit moves five points up on Boston in the Atlantic with the win.
Mar 28, 2015, 4:38 PM EDT
Anaheim currently has the NHL’s best record as well.
Mar 28, 2015, 3:48 PM EDT
Big win for the B’s.
Mar 28, 2015, 3:25 PM EDT
The West’s first ticket gets punched.
Mar 28, 2015, 2:59 PM EDT
There’s plenty of debate about it being dirty or clean.
Mar 28, 2015, 2:49 PM EDT
The only update so far is he’s “unlikely to return.”
Mar 28, 2015, 2:18 PM EDT
A positive trend on Saturday.
Mar 28, 2015, 1:46 PM EDT
Pittsburgh killed the penalty.
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