Although Islanders owner Charles Wang recently stated that he isn’t actively looking to sell the team, one potential buyer is preparing a bid (Sports Business Journal, May 16).
Andrew Barroway, the prospective buyer, is a hedge fund manager based out of Philadelphia.
Barroway has “reportedly lined up the partners and financing needed to complete a deal.”
The report in the Sports Business Journal notes that Barroway, who was once interested in purchasing the Devils, has an “understanding” with Wang that the team will cost $400 million. However, Wang is still free to negotiate with other potential buyers.