Skip to content

Charles Wang is being sued for $10 million for not selling Islanders

Aug 11, 2014, 4:48 PM EDT

Charles Wang AP

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.

Wait, what?

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.

Latest Posts
  1. Voynov arrest of ‘great concern’ to Kings, who support NHL’s suspension

    Oct 20, 2014, 1:23 PM EDT

    Edmonton Oilers v Los Angeles Kings Getty Images

    Club addressed the domestic assault charges in a brief statement Monday.

  2. Four straight losses has Jets in big, early hole

    Oct 20, 2014, 12:57 PM EDT

    Calgary Flames v Winnipeg Jets Getty Images

    Lots of questions being asked in Winnipeg.

  3. Here are your top 5 and bottom 5 goalies of the young NHL season

    Oct 20, 2014, 11:32 AM EDT

    Darcy Kuemper AP

    Darcy Kuemper has been excellent for the Wild.

  4. One day after NHL debut, Blues’ Lindbohm sent back to minors

    Oct 20, 2014, 11:29 AM EDT

    St. Louis Blues v Anaheim Ducks St. Louis Blues v Anaheim Ducks

    Played just over 14 minutes in a loss to Anaheim on Sunday.

  5. Penguins singing Steve Downie’s praises

    Oct 20, 2014, 9:55 AM EDT

    Steve Downie Getty Images

    They don’t mind killing off his penalties.

  6. What does the future hold for the Panthers in Florida?

    Oct 20, 2014, 8:57 AM EDT

    Roberto Luongo AP

    It’s no secret that they’re losing a lot of money.

  7. Report: Ducks to recall Gibson on Monday

    Oct 20, 2014, 12:43 AM EDT

    John Gibson Getty Images

    The goaltender was sent to the AHL for a pair of games over the weekend.

  8. Andersen picks up first career shutout in Ducks win over Blues

    Oct 19, 2014, 10:56 PM EDT

    Frederik Andersen Frederik Andersen

    Defenseman Sami Vatanen has first career two-goal game

  9. Report: Brodie’s contract extension with Calgary expected Monday

    Oct 19, 2014, 10:28 PM EDT

    T.J. Brodie #7 of the Calgary Flames skates with the puck against the Phoenix Coyotes during an NHL game at Scotiabank Saddledome on April 12, 2013 in Calgary, Alberta, Canada.
(April 11, 2013 - Source: Derek Leung/Getty Images North America) Getty Images

    Five years with an annual average value of $4.6 million.

  10. Gaudreau leads Flames past Jets

    Oct 19, 2014, 9:46 PM EDT

    Johnny Gaudreau Getty Images

    Responds to being a healthy scratch by showing up on the scoresheet.

Featured video

Why are we talking about fighting... again?

Sign up for Fantasy hockey

Top 10 NHL Player Searches
  1. P. Datsyuk (3363)
  2. M. Gaborik (2759)
  3. E. Staal (2715)
  4. J. Drouin (2694)
  5. J. Spezza (2579)