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.
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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