Mar 31, 2014, 11:47 AM EDT
A familiar name has popped up in the potential New York Islanders sale.
Philadelphia lawyer Andrew Barroway — who, in 2013, was linked to a proposed purchase of the New Jersey Devils — is reportedly in talks with Isles owner Charles Wang to purchase the club for a reported $225 million (with an additional $75 million if the club hits certain revenue targets.)
Here’s more, from the New York Post:
While Wang has been open to a sale for several years, there has been limited interest in a team that lost more than $10 million in a single season and has among the lowest attendance in the league.
But this time could be different because of a revenue guarantee from Barclays Center, where the Islanders are set to start playing in 2015. In October 2012, the Islanders inked a long-term deal to move the team from Nassau County to Brooklyn.
The arena’s owners guaranteed the Islanders about $50 million in annual revenue for regular season games. Barclays would keep anything it collects in sponsorship, suite and ticket sales over that amount.
It appears Barroway is in relative good standing with the NHL. A Forbes report from ’13 claimed he lent the Devils $30-million to help the team make its payroll, escrow and pension payments — but stepped away from the deal after a further review of the club’s finances.
The Devils were later sold to Josh Harris, the owner of the NBA’s Philadelphia 76ers.
Reports of Wang’s move to sell the Isles broke last week, and he was reportedly “furious” about the leak. Wang became part-owner of the Isles in 2000, then assumed majority control in 2004 after buying out partner Sanjay Kumar.
Jul 21, 2014, 10:45 PM EDT
He does know what the advanced stats say though.
Jul 21, 2014, 9:30 PM EDT
More depth for a Stanley Cup hopeful.
Jul 21, 2014, 8:25 PM EDT
Trade rumors around the Jets star never stop swirling.
Jul 21, 2014, 7:20 PM EDT
Mike Johnston is going out of his way to know his players.
Jul 21, 2014, 6:04 PM EDT
But hasn’t been charged with a crime.
Jul 21, 2014, 5:25 PM EDT
Edmonton’s 2014 first-round pick wants to stick around right away.
Jul 21, 2014, 4:20 PM EDT
He becomes an unrestricted free agent if he isn’t signed by Aug. 15.
Jul 21, 2014, 3:18 PM EDT
(He’s the tall one in the middle.)
Jul 21, 2014, 2:21 PM EDT
“That’s an exciting guy to watch.”
Jul 21, 2014, 1:20 PM EDT
“There are many reasons, but I do not want to go into details,” she said in a statement.
Jul 21, 2014, 12:26 PM EDT
The Rangers countered with a two-year deal at $2.05M per.
Jul 21, 2014, 11:24 AM EDT
Avoiding arbitration in the process.
Jul 21, 2014, 11:06 AM EDT
Yeah, this one’s going to arbitration.
Jul 21, 2014, 10:16 AM EDT
“We are looking forward to having Vladimir in a Blues uniform when he returns to the NHL,” said GM Doug Armstrong.
Jul 21, 2014, 9:00 AM EDT
Things apparently went sour with Patrick Roy.
Jul 21, 2014, 8:00 AM EDT
Monday’s assortment of links.
Jul 20, 2014, 11:00 PM EDT
Will he manage to make the team right away?
Jul 20, 2014, 10:00 PM EDT
They know their outdoor games.
Jul 20, 2014, 9:00 PM EDT
His still-deadly shot doesn’t hurt, either.
Jul 20, 2014, 7:30 PM EDT
Jason Spezza sold his former Ottawa home for $1.7 million.
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- Report: Leafs sign Franson to one year, $3.3 million deal 8
- Report: O’Reilly wants $6.7M deal, Avs counter at $5.5M 52
- Report: Blue Jackets, Johansen make ‘significant progress’ toward deal 5
- Red Wings unveil plans for new arena, look to open in 2017 57
- Columbus trying to figure out ‘the right thing to do’ with Johansen 39
- Panthers re-sign Kulikov: three years, $13 million 6
- Babcock fires back over allegations that free agents avoid him 77
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- Lucic regrets handshake-line actions, but isn’t apologizing (57)