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.
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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