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.
May 24, 2015, 2:45 PM EDT
He’s gone nine games without a point.
May 24, 2015, 1:45 PM EDT
He has not played since April 24.
May 24, 2015, 1:00 PM EDT
He’s set to become an unrestricted free agent in July.
May 24, 2015, 12:30 PM EDT
He missed Game 4 due to an undisclosed injury.
May 24, 2015, 11:41 AM EDT
He owes St. Louis one more season.
May 24, 2015, 10:46 AM EDT
He has not coached since being fired by the Penguins last June.
May 24, 2015, 2:05 AM EDT
“Finally got a bounce.”
May 24, 2015, 12:52 AM EDT
Chicago wins another long overtime game.
May 24, 2015, 12:30 AM EDT
This series heads back to California, all even.
May 24, 2015, 12:08 AM EDT
Double overtime? Sure, why not?
May 23, 2015, 10:54 PM EDT
Chicago had the lead. Gave it up. Tied it up again.
May 23, 2015, 9:41 PM EDT
Trying to get under the opposition’s skin.
May 23, 2015, 9:18 PM EDT
Blackhawks and Ducks going at it.
May 23, 2015, 8:49 PM EDT
But emphasized the need to remain “professional.”
May 23, 2015, 8:04 PM EDT
The reaction to the big news continues to pour in.
May 23, 2015, 7:05 PM EDT
Anaheim can put Chicago on the brink of elimination.
May 23, 2015, 6:17 PM EDT
“I have a tremendous amount of respect for Claude.”
May 23, 2015, 5:30 PM EDT
He suffered an undisclosed injury in Game 3.
May 23, 2015, 4:44 PM EDT
Oilers’ prospects Leon Draisaitl and Marc-Olivier Roy were among those who received 10-minute misconducts on Friday night.
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