Aug 11, 2014, 4:48 PM EDT
New York Islanders owner Charles Wang is finding out the hard way that trying to sell the team is a big headache.
According to Barbara Ross of the New York Daily News, Andrew Barroway has filed suit against Wang for $10 million for backing out of an agreement to sell the team to him for $420 million.
According to court documents, Barroway alleges the two sides had a “handshake” agreement to purchase the team at that price, but Wang pulled the offer off the table only to return months later asking for $548 million for the team, to which Barroway refused to pay. Wang then told him he sold the team to another party on Aug. 1.
The source of Wang’s angst and change of mind on the price? The Los Angeles Clippers. From the Daily News:
“Wang was having seller’s remorse,” the court papers say, “because he believed he had agreed to sell the Islanders for a price too low after hearing the unrelated news that a $2 billion bid was place to purchase” the Clippers.
As far as the Islanders being sold, that would be news to everyone because no announcement of a sale has been made and once Barroway and Wang stopped discussing a deal, it was assumed Wang was back to square one.
It seems that even when things are going well over the summer for the Islanders, there’s always something new to pop up and become a distraction. This time it may prove to be a costly one for the owner.
- Video: Fast whistle costs Senators potentially critical goal 2
- WATCH LIVE: Today’s Stanley Cup playoff action 3
- Another Blues campaign ends in disappoint as Wild advance 66
- Crosby joining Team Canada at Worlds 16
- Here’s your Stanley Cup playoff TV schedule for today 12
- One more time, with feeling: Flames stage yet another comeback, eliminate Vancouver 25
- Keith conquers: Blackhawks come back, eliminate Predators 49
- Red Wings smother Lightning, take 3-2 series lead 22
- Going the distance: Isles edge Caps to force Game 7 43
- WATCH LIVE: Today’s Stanley Cup playoff action 6
- Too little, too late: Rangers stifle Penguins for 2-1 series lead (114)
- It’s Done: Rangers eliminate Penguins in overtime (108)
- Bettman under fire after saying ‘Katy Perry’ chant wasn’t sexist (92)
- Okposo blasts ‘idiot’ Wilson after physical outing versus Isles (82)
- Preds, Forsberg finally solve Darling, push series to Game 6 (76)