Saturday, February 16, 2013
Islanders for sale?
By Victoria Matiash
There's fresh word Charles Wang is trying to sell his money-losing New York Islanders. According to the New York Post, sources claim Wang is in talks with a Manhattan investment bank about a potential sale.
"... Talks between Wang and (The Raine Group) are said to be preliminary and the team owner hasn’t hired Raine — so the effort could lose steam. An Islanders spokesman said there is no truth to the story. Raine could not be reached for comment. Over the last few years, sources said, Wang has quietly let it be known that he is open to selling the National Hockey League team — although no formal sales process was established. Wang was hoping to sell the team for around $300 million, which some, sources added, thought was unrealistically high ..."
The team is said to be more "salable" now that there's a deal to move to Brooklyn’s Barclays Center in 2015.