Mar 31, 2014, 11:47 AM EST
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.
Feb 27, 2015, 1:16 AM EST
His shutout streak is now at 172:22.
Feb 26, 2015, 11:31 PM EST
Nino Niederreiter combined skill and good fortune to help his team win.
Feb 26, 2015, 11:06 PM EST
Making room for Andrej Sekera.
Feb 26, 2015, 10:30 PM EST
Nice work from Craig Smith and Nino Niederreiter, respectively.
Feb 26, 2015, 10:17 PM EST
The possibilities are extensive, it seems.
Feb 26, 2015, 9:55 PM EST
Giving up precious points.
Feb 26, 2015, 8:52 PM EST
Two goals on eight shots was enough to inspire a change.
Feb 26, 2015, 8:37 PM EST
He doesn’t regret signing with Toronto, though he’s welcoming the change.
Feb 26, 2015, 8:12 PM EST
Feb 26, 2015, 8:00 PM EST
Minnesota needs this against one of the West’s best.
Feb 26, 2015, 7:39 PM EST
In other news, it appears as though David Krejci is on LTIR.
Feb 26, 2015, 6:32 PM EST
Canucks requested the league take a closer look, but no evidence was found.
Feb 26, 2015, 6:27 PM EST
Feb 26, 2015, 6:18 PM EST
Head coach Joel Quenneville said it’s “all news to me.”
Feb 26, 2015, 5:30 PM EST
A familiar face goes back to the Toronto organization.
Feb 26, 2015, 4:49 PM EST
Buy hey, you never know.
Feb 26, 2015, 4:39 PM EST
Bold move from Florida GM Dale Tallon.
Feb 26, 2015, 4:35 PM EST
Looking forward to playing “a better role.”
Feb 26, 2015, 4:31 PM EST
Joining the likes of Wayne Gretzky, Magic Johnson, Jerry West, Kareem Abdul Jabbar, Chick Hearn and Oscar De La Hoya.
Feb 26, 2015, 4:06 PM EST
Former “CPR Line” line member is headed back to St. Louis.
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