Aug 11, 2014, 4:48 PM EST
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.
Dec 28, 2014, 1:59 AM EST
Darryl Sutter must like what he sees with the advantage.
Dec 28, 2014, 1:03 AM EST
Dec 28, 2014, 12:36 AM EST
Meanwhile, the Rangers are playing OK.
Dec 28, 2014, 12:05 AM EST
Battle of California tonight.
Dec 27, 2014, 11:47 PM EST
Some controversy in this game, too.
Dec 27, 2014, 11:02 PM EST
Same old, same old.
Dec 27, 2014, 10:48 PM EST
Holy puck possession!
Dec 27, 2014, 10:27 PM EST
Physical game between these teams.
Dec 27, 2014, 9:46 PM EST
These teams, as we all know, don’t care for each other.
Dec 27, 2014, 9:32 PM EST
Dec 27, 2014, 8:48 PM EST
This had been brewing for some time.
Dec 27, 2014, 8:27 PM EST
No call on the play.
Dec 27, 2014, 8:05 PM EST
Injury occurred on a clean hit along the boards.
Dec 27, 2014, 7:28 PM EST
Interesting times for the Devils.
Dec 27, 2014, 7:00 PM EST
Starting to tighten up in the Eastern Conference standings.
Dec 27, 2014, 6:26 PM EST
Minnesota has recalled John Curry.
Dec 27, 2014, 6:02 PM EST
Was fired three games into the 2013-14 season.
Dec 27, 2014, 5:24 PM EST
St. Louis will host the Dallas Stars.
Dec 27, 2014, 4:46 PM EST
Will that last?
Dec 27, 2014, 4:15 PM EST
He’s been dealing with a back injury.
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