Caps owner congratulates Ledecky & Malkin on purchase of Isles

Christian Arnold, Islanders Point Blank:

Jonathan Ledecky and Scott Malkin will become the new owners of the New York Islanders. First, as minority stake holders, and then take full control of the franchise in two years.

The announcement of the deal prompted Washington Capitals Owner Ted Leonsis to congratulate Ledecky, who was co-owner of the Caps from 1999 to 2001, on his blog.

Jon, forever now to be known as Katie Ledecky’s uncle, was a terrific and enthusiastic co owner of the Capitals, back in the day. He and his partner will bring passion, energy and commitment to community to Charles Wang and the Islanders, when this deal is approved.

Ledecky held a minority share of the Capitals for three years before selling it to Leonsis in 2001.




158 comments
puckznpadz
puckznpadz

Heard some news this morning from a few friends with ties to the NHL.  They are saying that the NHL is not going to approve this sale. The lawsuit with Barrows being the sticking point.  Apparently one of Barrows silent partners was Gary Bettman's brother. Not saying this golden.

David Di Gesu
David Di Gesu

I have full confidence the islanders will make the playoffs this year.

Reasons:

- Last year at the old barn - a send off to remember reason enough

- A good 2nd line finally not depending soley on line 1 the past 7 seasons.

- # 1 the team is being sold, has investors, with deep pockets, NHL experience/resume, and a bright future ahead!

We just need 1 defenseman by trade to complete the team this year to carry farther into the playoffs.

dinbigd
dinbigd

No point in debating what's already done. I for one believe Isles are clearly better today than last year. We can all argue its too late , been too long, wrong moves were made etc. but one simple fact still remains. They are & will be a better team. Isn't that what we all wanted? Who cares how we got here lets just sit back & enjoy the last season at the Coli while looking forward to what can be in Brooklyn.

phishstyx1
phishstyx1

why is Harry Zolnierczyk, Kael Mouillierat, and prospects Villa Pokka, Jesse Graham on the Islanders website Roster?? No Griffin Reinhart?? WTF

David Di Gesu
David Di Gesu

I wish the islanders stayed right here in Nassau but economics played a key role in it. Today's sports to be a successful team you have to market your game to CORP AMERICA they buy most of the tickets not just a family of 4.

It's tells you moving to Brooklyn a few offers where on the table for wang to sell the franchise. Selling in Nassau to a different group wasn't going to happen.

Unless you had an Alumni x-islander try to buy the team but they don't have 400 plus mill.

Brooklyn is only a 45 minute ride by train from Nassau and Suffolk as far as Amityville is 1 hr. I won't be able to attend games on weekdays but defiantly on Friday - Sunday.

Guys- prices

1. Parking at the coliseum is about what $10-$12 bucks now, plus buying food, and the tickets.

2. A train ride cost $7-$9 per ticket on off peak and weekends, plus food, and a ticket. Any that has a job can handle that.

ivo
ivo

I hope these guys are not A-holes!

(Steven Gluckstern & the Milstein brothers idiots)

bobbyclark
bobbyclark

Come on!! They cant' be any worse than Wang... Right?

tpjm
tpjm

Congrats Ledecky & Malkin! New location, new arena and soon to be new owners. I have never been happier!!  Good luck gentleman.


Hey Islesfan74, thank Mr. Wang for keeping NYI in NY.  The lack of new arena on LI was all the fault of the politicians and the residents who didn't care about NYI. They voted down the referendum for NYI to leave and re-elected the pols who didn't want the Lighthouse. Most civilized communities that grow have real mini cities like White Plains and Stamford Ct. LI is stuck in the 50's where no growth of suburbia doesn't work in 2014 or the 15 years prior. The Lighthouse was a complex not a mini city. The repubs just didn't want the growth of the Dems from increased housing so that's why the Lighthouse was shot down along with NYI. Wang did everything he could to keep NYI on LI and he gets my thanks for moving them to BROOKLYN instead of KC or Quebec. I have issues with the way he runs the hockey team but the arena situation wasn't his fault at all. You'll have to excuse some of the more naive posters. Just know we're not all dense like that and I like what you said in your discussion. Looking forward to NYI success with the new owners and the new arena.  


Cheers!

Robert Konigsberg
Robert Konigsberg

as happy as i am, i have to admit with wang destroying the franchise so much beyond repair, and with charles in charge for two more years til he gives up the ship, there is no telling what he and snow might do to destroy the franchise even more since he knows he has two more years to do the most stupid things, since in his delusional and dysfunctional world, he thinks he knows better then everyone else. lets just hope wang and snow dont go all out and do the most stupid moves possible, like more stupid nino, and moulson,vanak, fiascos for scrubs or rentals. we have no number 1 pick in the draft, which is the best in many years thanks to clueless wang and his even more clueless and inept gm. lets just hope wang and snow dont go all out to destroy the franchise even more til the new owners take over.

David Di Gesu
David Di Gesu

Also guys I wanted so bad for the islanders to stay right where they are now but tell me 1 basketball team, Baseball team or Hockey team that plays in a suburban community in today's world have a winning track record in the past 10 yrs? None!!!

Times have changed corp America is what sponsors and buys more groups of tickets then a family to see a game. That's Long Island majority of fans attending the game.

No money in it for the owners of any sports today.

It's simply ECONOMICS! Sad but true !

David Di Gesu
David Di Gesu

Yes as islander fans of course we are skeptical but why can't you admit. We have a bright future ahead .

Oh I know...

1. 20 yrs of failed promisesabd disappointments but....

2. It's changing thing is a lot of these islander fans don't like the idea the team is moving to Brooklyn and not staying here .

Get off your butts and travel to Brooklyn on weekend games at least!!!!

Coming from a dir hard islander fan since 1982.

The islanders could not survive on Long Island in a suburban community. We lost the Rags practice facilty in LB, the Nets, the jet and now the islanders.

David Di Gesu
David Di Gesu

Finally after 20 yrs we have stability on the horzian. Why??? Because these owners have a good track record and resume. Not like the miltsteins, spano, and wang until this years moves .

David Di Gesu
David Di Gesu

This problem is a lot of these Bloggers are still young puppies. They weren't even born 80% of them when the islanders won in the 80's or had even a good team in the early 90's with Pierre T, Steve Thomas, Ray Ferraro, Daruis Kasper, Malkov, and so forth...

They only remember from 1998 to present reason for the negatively .

Your right even main hit to the finals won't satisfy this group. I just want to make the playoffs consistently and see what happens.

vegasvlo
vegasvlo

Lets go Islanders!!!!!!!!! Lets go Islanders

willymayshays
willymayshays

Just like I said rm, the hockey welfare system is going broke because of iniquitous maneuvering from teams like the Islanders.  Losing will not be supported as greatly, Thanks Wang for the increased rigidity of the NHL.  It's the crooks , not the institutions, that create the laws.


I just told you yesterday rm, and you'll still tell me I'm wrong.

You'll tell me Wang loves the Islanders, yet he "regrets" buying the team.  

You tell me Wang will not sell I tell you he will

You tell me Halek will not be signed before the new cap ceiling is written in stone... signed the next day like I predicted.

To top it off, you love that the Islanders are going the greedy route, (like all sports these days) and it's GREAT.  But your leaving New York because of what greed and corruption has done to your neighborhood....

rm, you are all agenda all the time

Steven Cook
Steven Cook

You people are never happy. If and when the Isles raise that 5th banner to the rafters of Barclay's most people will still have something to complain about. 

tpjm
tpjm

@puckznpadz Nothing was signed with Barroway.  It's just a formality and the sale to Malkin/Ledecky will go through.

Islesfan74
Islesfan74

@David Di Gesu i agree with all your points except the 1 line scoring. Franzy had an awesome year last year and when the AHL was together they were scoring like mad. The problem was even when they put up 3 goals they were letting up 4. I dont think scoring has been an issue for this team its really just the defensive side

puckznpadz
puckznpadz

@phishstyx1 their web master is probably cutting lawns to make money to survive and have not had a chance to change it.

dkdk
dkdk

David one point here that is often overlooked when talking prices .... Parking is $12 per car. One person or 8 it is $12. A round trip ticket on the LIRR will be 20-30 per person. Huge difference. Maybe you are a 20 year old single guy that only has to cover yourself, but the majority of us are married with kids so it is time to extrapolate the LIRR tickets prices across multiple people.

Also in this economy it is kind of ballsy to walk in other people's wallets and make general statements that anyone can afford anything.

Islesfan74
Islesfan74

@Robert Konigsberg we traded this years draft pick because we plan on being in the playoffs. not a bottom feeder with a top 5 pick

elephant
elephant

@David Di Gesu Can't agree more.  It's very unfortunate that the Islanders won't be in Nassau, the traditional location that they have always been in, but they are still going to be in King's County on LONG ISLAND.  

A trip on the LIRR should not be an issue for a true fan.  For the 250,000 from Nassau and Suffolk who commute into Manhattan, the move to Barclays will make going to weekday games EASIER!  And I'm sure true fans can handle an LIRR ride with some friends and/or family on the weekends...

doc942
doc942

@David Di Gesu So the moves that brought Tavares, Grabner, Nelson, Strome, Reinhart, Okposo, Nielsen, Hamonic, de Haan, Cizikas etc. don't count?  Only the moves from this offseason count?  Isn't accumulation of  those foundation pieces over time, necessary to building a winner? I know it was a painful process, but if Wang gets destroyed for the lack of success from 2006 through 2013, but is also in charge for when those players are now successful (hopefully), doesn't that mean that those moves in 2007, 08, 09, 10, 11, 12 and 13 were good moves and part of the process?

Logan Monstuart
Logan Monstuart

@David Di Gesu Hard to imagine now that that 90's team had three 40-goal scorers, King, Turgeon and Ferraro, and two 30-goal scorers, Benoit Hogue and Steve Thomas, who netted four (against Buffalo?) the final game of the season.

Benoit Hogue.... Montreal, second game of the conference finals. Hogue breaks in alone on Roy late in the third period of a tie game. Shoots wide. Had Hogue scored there, Isles would have returned home at 1-1, not down 2-0, I truly believe they would have won that series, then beaten the Kings. Had Hogue scored there....


shamwow
shamwow

@David Di Gesu

David, you're in many ways correct - I was a kid, and then a young man, during the Team's meteoric rise and ultimate reign of glory... I was at the Garden that night in '75 when, in only their third year of existence, the Isles ousted the Rags from the Playoffs... JP Parisi from Jude Druin at .11 seconds of Overtime


I was at every Cup victory game - and managed getting into the locker room area (a buddy had a then rare to the consumer market shoulder held video camera - security thought we were Press credentialed!) following Bobby Ny's goal for the ages...


I was one of about only 50 fans who showed at La Guardia at 6:30 in the morning to welcome them back from Vancouver following their 3rd championship... The players meandering off the chartered jet in various stages of inebriation, onto the tarmac... Fans and players alike serenading each other with, Nah, Nah, Nah, Nah, Hey, Hey, Hey, Goodbye, as an obviously drunk Clark Gilles climbed the 20 ft fence separately the waiting area...


While the Franchise was never really on sound financial footing, even back then - Roy Boe (1st team owner) got himself into some hot water for diverting money from his other sport holdings (he also owned the NY Nets, before they were the NJ Nets and now the Brooklyn Nets - no small irony the Isles reuniting with them at Barclays) in order to meet Islanders payroll...


And through it all, through the haplessness of their initial seasons, where they endeared themselves to suburbia, and to a 10 year-old City kid from Forest Hills, Queens like me, and then onto true greatness, all they ever did was win. And win. And win...


There was no talk of 4 billion dollar boondoggle development deals...


No 77 acre land schemes...


No accounting irregularities and Securities fraud investigations...


No Chuck Wang. No Sanjay Kumar...


No Summo wrestlers in goal...


No 35 day GMs. No management by committee. No backup goalies ushered into the executive suites with their skates still on...


Ahh... It was a simpler time; perhaps even an innocent time, back then at the beginning of it all...


I'll miss that Center Ice at NVMC where Islander legends skated to the pinnacle and strode astride that mountaintop for what seemed forever...


Those Boys of Winter are much older now, as am I, and lives move on in ways unforseen...


But I was there. I lived it all. And the sweet sweet fragrance lingers on.

rmbbanned
rmbbanned

@willy: I took the time to again read your post from 24 hours ago. You don't disagree with my point about catering to the top 10%, with 7@% of the money. You don't disagree at all.

Your just not happy with the direction pro sports is headed. Lotsa unhappiness at nights out, and yuppies. I happen to agree 100% with your rant. It Is all distraction from the game.

But that is the direction it has taken. So be angry with it, hate the beer, the lobster, the silliness. But it isn't going away. Your wrong to think otherwise, but post away and prove my point. Catering to the over priced, over the top, ruthless business yuppies dominate the thinking at sports arena today. If you want to be more then a payroll floor team, embrace the yuppie. If you want to park at NCC, eat peanuts and skip the beers, you might not find refuge at the new NVMC because...

The guys running the new NVMC just booted "Legends" catering because it was too boring. Legends are the guys who do food at Yankee stadium. It was reported in New$day about 2 days ago. The good old days are behind us, learn to adjust to current thinking on food and beverage. Current thinking may not be better thinking, but it is current.

rmbbanned
rmbbanned

@willymayshays I have never seen somebody fire so many rounds, and  completely miss the target. 

lets try again, shall we:


"You'll tell me Wang loves the Islanders, yet he "regrets" buying the team."

um, he loves owning the team, but it was for 14 years a HORRIBLE investment. Kinda like a first girlfriend. If you can't figure that difference, I can't help you.


"You tell me Wang will not sell I tell you he will"

4 months ago, for $190 million dollars, no he wouldn't sell. 

For more then $375 million, well that is a different number entirely. Now for $500 million. when something is worth $190 million, and you get offered $500+ million, you sell. post where you wrote Wang was gonna get 2 or 3 times the value of the franchise. heck, post the whole exchange. looking forward to it..


"You tell me Halek will not be signed before the new cap ceiling is written in stone... signed the next day like I predicted."


You should revisit that point. You were crying cause Halek wasn't a UFA, and Snow didn't know what he was doing trading away picks for a guy who wasn't a free agent. Go ahead, look it up and post it.. Don't forget to add the numbers people were posting for his contract and length, and the actual contract and length (SNOW stole him compared to what was being written here )I need the laugh. 

post it up kid. you got the goods, then show them off..


"To top it off, you love that the Islanders are going the greedy route, (like all sports these days) and it's GREAT. "


I dare you to post that exchange too..All sports are catering to the top10% that control 70% of the wealth. You parking at NCC to avoid the parking fee, eating your peanuts and leaving is a losing prop for ownership. Better for them if you sat home and watch center ice. The want big money to eat lobster, drink craft beer, and buy expensive desserts.


go ahead and post that exchange too. It is all right there willy- post it.. come on, post your "goods".. Show everybody how right you are kid. I call your bluff..


see willy, it is called put up, and shut up it time. go ahead, and make me look foolish. I welcome the challenge.  Please include where you didn't know Halak was a UFA, while crying tears over a fourth rd draft pick.. add the part where it was Snow playing media games.. that is my favorite part.


I am pro ownership, and the rebuild. Always have been.


You don't understand economics of modern sports, nor do you understand a UFA vs RFA free agent. 

fire away kid, post the exchanges. I have nothing to fear, except breaking a rib laughing at you..

camb33
camb33

@Steven Cook  You wanna make me happy, you can keep your banner, just show me some competative hockey

Jason Zimmermann
Jason Zimmermann

@Steven Cook I understand all guarded behavior. This team has literally never had stable ownership. So naturally, there are fans who are going to assume the worst. Additionally, this is not an immediate change, so we're still in the midst of the waiting game.


Personally, I'm guarded, but hopeful. Not because I doubt new ownership, but because I know that there are no miracles. New ownership = new culture. How will all adjust?

Islesfan74
Islesfan74

@Steven Cook yup. We get new ownership everyone complains. We don't get new ownership everyone complains. 

rmbbanned
rmbbanned

@dkdk... Hysterical statement when you write about walking into other peoples wallets- then complain about ownership refusal to lose big money year over year.

Now with enhanced revenue sharing and Brooklyn over the horizon, spending has gone up...

David Di Gesu
David Di Gesu

Doc942 - those players mention are a good foundation for success , but Wang never surrounded those players with NHL Caliber good players in the league already.

Instead they signed washed up veterans on the cheap. Finally after 10 yrs under wang he wakes up.

Don't talk about wang losing money. Yah might have been losing a few mill a year but not the 19 mill he says.

From the 15-20 mill he gets from the cablevision deal to televise games to....

Coming up with and marketing his video/graphic technology that the league uses today.

He lies and is a weasel.

rmbbanned
rmbbanned

@doc: yep.. His man Snow made the personal moves both good and bad. So when things are bad, Snow and Wang get the grief. If things go well with these players on the roster, wang and Snow will get the credit.

Of course some will object to that because they believe Wang and Snow are pure evil.. Heck some claim they are "criminal sociopaths". I guess using big words improperly makes them feel smart...

shamwow
shamwow

@doc942 @David Di Gesu

No, Doc, no credit is deserved...


What Chuck Wang is richly deserving of however, besides serving 10 to 20 at a medium security federal penitentiary for securities fraud, is full credit for purchasing a storied NHL Franchise and spending the better part of a decade leveraging that Team and its loyal following in failed attempt at a 77 acre land scheme...


That, and losing hockey games.


What Chuck and his cartoon-like buffoonish GM might prove is, if you remain at the bottom, unmoved, long enough, and the world keeps spinning, you could one day, with some dumb luck, wake up and find yourself on top of things...


You call it a rebuild. I call it inertia.

rmbbanned
rmbbanned

@Logan Monstuart Dale Hunter changed the course of that series, maybe even the franchise. 


I think they win with Sneaky Pete dressing for that series. Even if they go 6 or 7 games and fail, that makes it difficult to move Pete...





bobbyclark
bobbyclark

@shamwow @David Di Gesu Those were the days. I remember going to games with my uncle. I still have the 1972 years book! I am glad the Islanders are staying in NY what with all the rumors of relocation but saddened that they will no longer be in the NVMC. I was a kid back then I still remember crying when they lost in the finals for the "Drive for Five". But this is a time for celebration being Wang will be gone. A fellow fan mentioned that Wang should at least get credit for the draft picks but I think not. The credit should go to the scouts especially for lower picks that turned out being successful. Wang has destroyed a once proud organization. Look what he did to Lafontaine, as you walk around NVMC not one number sixteen dedication is there because he stood up to him. I know Snow screwed up this season and that falls directly on his lap but other issues I think his hands were tied. But as fans lets rejoice that Wang will be gone for good in two years.

bammer26
bammer26

@shamwow- Good post Sham, as usual great memories. I made the last cup VS. the Oilers for game 3, but must say that my best memorable game was game five vs. The Rags when Kenny "wolfman" Morrow buried the biscuit off the right face off circle. The Coli was crazy, and back then, not many Blueshirt fans in the stands.


The Tomas Jonsson goal that put the Isles up 2-1 was rafter shaking. High slot pass from Duanne Sutter, and TJ had time to walk in, head up, and that gave time for the crowd to rise as ONE and explode. Jethro in front of Hanlon was a huge screen for the wrister that beat GH.


The sweet fragrance lives on bud, all the best.

rmbbanned
rmbbanned

@jason: they will adjust to the demands and objectives of the new ownership, or they will fired and replaced. There won't be a long adjustment period- do or be gone...

Hopefully revenues for the Franchise will be strong enough to be a cap ceiling team, while earning the new ownership a happy return on their investment. If things go right, new ownership will have deep enough pockets to green light a late season trade that brings the player that results in a Cup parade for the Islanders.

Hopefully new ownership isn't purely about the buck, runs the Franchise at a certain operations budget, to make certain a fat return. Imagine if new ownership had a stated goal of "clearing $50 million a year in profit", so if necessary cut payroll to reach that objective.

That would be a nightmare.

None of us know what they will do..

This is the Islanders, so the likely outcome is the best case scenario... Or not...

Islesfan74
Islesfan74

@Jason Zimmermann @Steven Cook Yea new ownership may not work out i dont think anyone is thinking were going to win a stanley cup immediately. Just bothers me that all over these blogs the past years you see people calling for wangs head. And when it finally happens they complain about it.

bammer26
bammer26

@shamwow- Wang has been doing business like this for quite some time Sham, as you are well aware of. CA, The Islanders, Smile Train, Sanjay, his close fried taking one in the chest...opps, sorry never Indited or brought to justice. He MUST be inno....

shamwow
shamwow

@bammer26 @shamwow

Bammer, Chuck's reputation is widely known in New York business/financial circles, most especially on Long Island...


For many, the name Wang is anathema.


He's simply a dirty businessman; sordid dealings punctuating his regrettable history.


But he singlehandedly "saved" the Franchise, don't you know? 


And with saviors like Chuck, I'd prefer wandering alone in the wilderness.