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 1, 2015, 1:41 AM EST
Got a little help, too. Quick whistle on Toews chances.
Feb 1, 2015, 12:55 AM EST
Stopped 31 of 32 shots for the win.
Feb 1, 2015, 12:07 AM EST
No call. Got a little testy out there after that hit.
Jan 31, 2015, 11:17 PM EST
Boston maintaining their hold on a Wild Card spot.
Jan 31, 2015, 10:23 PM EST
Maybe February will be better?
Jan 31, 2015, 9:44 PM EST
Battle of Alberta isn’t what it used to be.
Jan 31, 2015, 8:57 PM EST
Scary moment, but he has stayed in the game.
Jan 31, 2015, 8:27 PM EST
Goal No. 715 of his career.
Jan 31, 2015, 8:14 PM EST
Short-handed, too! *Thumbs up*
Jan 31, 2015, 7:43 PM EST
Starting Sunday, these teams will play each other three times in 16 days.
Jan 31, 2015, 7:16 PM EST
Obviously not smart.
Jan 31, 2015, 6:46 PM EST
Allowed five goals on 20 shots.
Jan 31, 2015, 6:19 PM EST
Two losses in a row for the Islanders.
Jan 31, 2015, 5:53 PM EST
Was put on waivers, cleared, and sent to the minors this week.
Jan 31, 2015, 5:22 PM EST
Took part in team skate on Saturday.
Jan 31, 2015, 4:47 PM EST
Detroit is forcing itself into the Stanley Cup conversation.
Jan 31, 2015, 4:08 PM EST
Montreal has put pressure on Tampa Bay in the battle for the Eastern Conference lead.
Jan 31, 2015, 2:48 PM EST
He has a degenerative back injury that might lead to career-ending surgery.
Jan 31, 2015, 1:56 PM EST
He gave up five goals against them on Jan. 10.
Jan 31, 2015, 12:57 PM EST
Meanwhile Philadelphia will try to win its fourth straight game.
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