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.
Sep 18, 2014, 7:50 PM EDT
Sep 18, 2014, 6:30 PM EDT
He fits right in with the Flyers.
Sep 18, 2014, 5:30 PM EDT
Could be a slow road to recovery.
Sep 18, 2014, 4:30 PM EDT
At least the Blue Jackets’ GM is ruling out surgery.
Sep 18, 2014, 3:51 PM EDT
He’ll miss at least months, GM Ron Hextall said.
Sep 18, 2014, 3:16 PM EDT
Hey, he’s got less than eight years to go.
Sep 18, 2014, 2:25 PM EDT
“I don’t think I had a conversation with Torts until Christmas last year.”
Sep 18, 2014, 2:24 PM EDT
“The next time I’ll talk publicly about Jaden is when we sign him.”
Sep 18, 2014, 1:42 PM EDT
Never boring in Toronto.
Sep 18, 2014, 12:36 PM EDT
And it’s probably going to be Ryan McDonagh.
Sep 18, 2014, 12:12 PM EDT
Two key youngsters on a Stars team with high hopes.
Sep 18, 2014, 12:06 PM EDT
Former first-round pick missed extensive time to a torn ACL.
Sep 18, 2014, 11:42 AM EDT
Taken 16th overall in 2007.
Sep 18, 2014, 11:27 AM EDT
Remember him? Taken 3rd overall in 2004… behind Alex Ovechkin and Evgeni Malkin.
Sep 18, 2014, 11:10 AM EDT
Tough blow for a kid looking to make the leap this season.
Sep 18, 2014, 11:01 AM EDT
Just a precautionary measure, said GM Jim Rutherford.
Sep 18, 2014, 10:35 AM EDT
He spent a lot of time on the sidelines last season, but Pittsburgh leaned on him heavily when he was healthy.
Sep 18, 2014, 10:00 AM EDT
Retired Finnish star was diplomatic after being made a healthy scratch, but now he’s opening up.
Sep 18, 2014, 9:01 AM EDT
Is it still reasonable to believe this might have a relatively happy ending for both sides?
Sep 18, 2014, 7:57 AM EDT
Thursday’s collection of links.
- Flyers’ Timonen admits chances of playing are ‘really slim’ 7
- Desjardins (a.k.a. not Torts) makes good first impression on Canucks 20
- Leafs deny rift between Kessel and coaching staff 13
- Injured Crosby, Malkin will miss start of Pens’ camp 8
- Selanne rips Boudreau in book 17
- Just how damaging are heated negotiations between Jackets, RFA Johansen? 37
- Panthers owners say they’re committed even though team has lost ‘tremendous amounts of money’ 11
- Update: Wild’s Harding out indefinitely with fractured foot 20
- Johansen heads home from Columbus as talks get even messier 24
- Kesler accuses Vancouver media of making up stories, ‘throwing people under the bus’ 25
- Heeeeeere’s Johnny! Davidson shreds Johansen’s agent for ‘baffling, nonsensical’ contract demands (61)
- Chiarelli: At some point, I’m going to have to trade a defenseman (56)
- Jackets reveal Johansen offers — including an eight year, $46M deal (54)
- Will the NHL publicize divers? (48)
- No icing on the PK? The USHL will see how that looks (43)