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.
Aug 29, 2015, 3:00 PM EDT
This will be his first full season as a pro.
Aug 29, 2015, 1:30 PM EDT
They’ll be paying him like one.
Aug 29, 2015, 12:00 PM EDT
“We did lose a great man.”
Aug 29, 2015, 10:30 AM EDT
The Blue Jackets have to hope for better health this season.
Aug 29, 2015, 9:00 AM EDT
Looking to bounce back after an injury-ravaged campaign.
Aug 28, 2015, 10:15 PM EDT
You know, the one injured on “that” slash from P.K. Subban.
Aug 28, 2015, 9:00 PM EDT
Which is great news for Dallas.
Aug 28, 2015, 7:45 PM EDT
The club’s top pick at this year’s draft.
Aug 28, 2015, 6:30 PM EDT
Former Avs and Habs goalie spent all of last year in the AHL.
Aug 28, 2015, 5:15 PM EDT
Yet another NHL club hiring a fancy stats guy.
Aug 28, 2015, 3:55 PM EDT
Scored a career-high 19 goals and 40 points last year.
Aug 28, 2015, 3:00 PM EDT
Former Panthers, Devils head coach takes over a team that “hit a little bit of a rut.”
Aug 28, 2015, 1:40 PM EDT
After an up-and-down rookie year, he’s looking to solidify his spot.
Aug 28, 2015, 12:19 PM EDT
Legendary Isles coach had been battling Parkinson’s and dementia.
Aug 28, 2015, 12:00 PM EDT
Bit of an issue last season, if you’ll recall.
Aug 28, 2015, 11:00 AM EDT
From little-used backup to clear-cut No. 1.
Aug 28, 2015, 10:03 AM EDT
It all comes down to goaltending.
Aug 28, 2015, 9:00 AM EDT
Their playoff streak ended after 10 straight appearances.
Aug 28, 2015, 8:00 AM EDT
Friday’s collection of links.
Aug 27, 2015, 10:00 PM EDT
The defenseman had 34 points in 66 OHL games last season.
- Hall of Famer Al Arbour passes away 17
- Poll: Who will be San Jose’s next captain? 24
- It’s San Jose Sharks Day at PHT 25
- Mike Richards charged with possession of controlled substance 94
- Gio won’t go: Flames extend Giordano for six years, $40.5M 13
- Pens’ plan for now: Crosby starts as Kessel’s center 25
- O, Dear: Russia fined $85K for skipping Canadian anthem 28
- Kings ink Ehrhoff to a one-year, $1.5 million deal 27
- Quebec City, Vegas advance to final phase of NHL expansion process 50
- Here’s the full NHL 2015 preseason schedule, starting Sept. 20 5