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.
Oct 20, 2014, 2:10 PM EDT
Oct 20, 2014, 1:45 PM EDT
Terrible luck for the 22-year-old rookie d-man.
Oct 20, 2014, 1:23 PM EDT
Club addressed the domestic assault charges in a brief statement Monday.
Oct 20, 2014, 1:20 PM EDT
Johan Franzen has been placed on IR.
Oct 20, 2014, 12:57 PM EDT
Lots of questions being asked in Winnipeg.
Oct 20, 2014, 12:46 PM EDT
Court date scheduled for Oct. 22.
Oct 20, 2014, 12:24 PM EDT
Hard lines, T.J. Brodie.
Oct 20, 2014, 12:02 PM EDT
Tampa Bay’s blue line is one of the deepest in the NHL.
Oct 20, 2014, 11:32 AM EDT
Darcy Kuemper has been excellent for the Wild.
Oct 20, 2014, 11:29 AM EDT
Played just over 14 minutes in a loss to Anaheim on Sunday.
Oct 20, 2014, 10:43 AM EDT
Boston hosts San Jose tomorrow.
Oct 20, 2014, 10:37 AM EDT
Was reportedly arrested this morning.
Oct 20, 2014, 9:55 AM EDT
They don’t mind killing off his penalties.
Oct 20, 2014, 8:57 AM EDT
It’s no secret that they’re losing a lot of money.
Oct 20, 2014, 8:01 AM EDT
Click the link to see the pictures.
Oct 20, 2014, 12:43 AM EDT
The goaltender was sent to the AHL for a pair of games over the weekend.
Oct 20, 2014, 12:22 AM EDT
Was hit by a Ryan Suter point shot in the second period.
Oct 19, 2014, 10:56 PM EDT
Defenseman Sami Vatanen has first career two-goal game
Oct 19, 2014, 10:28 PM EDT
Five years with an annual average value of $4.6 million.
Oct 19, 2014, 9:46 PM EDT
Responds to being a healthy scratch by showing up on the scoresheet.
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