wang

Report: Wang agrees to sell majority stake in Islanders

Charles Wang has agreed to a deal to sell a majority interest in the Islanders, the team said.

The deal is to sell the team to Jon Ledecky and Scott Malkin, who will be minority owners for two years, after which they will assume majority control over the organization, the Islanders announced.

“We are pleased to have the opportunity to become partners in the New York Islanders with Charles, and to pursue our shared dream of winning a fifth Stanley Cup for the greatest fans in the NHL,” Ledecky said.

Ledecky is the former co-owner of the Washington Capitals. He is Chairman of the Board at Forbes. Malkin is the CEO of London-based Value Retail, which run high-end shopping villages.

“I’m thrilled that Jon and Scott have agreed to join me as we start the Islanders’ final year at Nassau Veterans Memorial Coliseum,” Wang said. “I look forward to a long and successful partnership.”

The deal is pending NHL Board of Governors approval, likely in December (Strang, August 19).

“There will be no further comment until the NHL completes its franchise ownership transfer process,” the Isles said.


Wang was recently hit with a $10 million lawsuit for backing out of a handshake agreement to sell the team to Andrew Barroway (IPB, August 11).

Christian Arnold, Islanders Point Blank:

When things happen in Islanders country they really do come out of left field.

A week after the reported lawsuit against Wang over a deal gone bad with Andrew Barroway to sell the team, word breaks that he sold the team to other buyers.

It is a means to an end for all parties involved. A vocal segment of Islander fans were tired of Wang and have wanted him to sell the team for quite some time. And for Wang, who has been losing millions of dollars through his ownership of the team, this is a clean break from the team. Not much is known about the new buyers, but considering how hard Wang tried to keep the Islanders on Long Island and in New York, they will likely take care of the team that he has owned since the turn of the millennium. A new arena is coming, there is a competitive team on the ice for this season and, now, a new owner.

Things are really changing around the Islanders… for the better.

Islanders Point Blank Podcast: Ownership, Pulock, The D

NHL.com’s Brian Compton and Christian Arnold of IslandersPointBlank.com discuss the ownership situation and the chances of Ryan Pulock landing on Long Island. Plus, Brian chats with Corey Masisak of NHL.com about the team’s chances going into training camp.

For the show rundown, click here...

Ownership situation

Defenseman Ryan Pulock interview (4:30)

Eric Cairns interview (9:55)

NHL.com’s Corey Masisak (13:50)

As training camp approaches, what are you most excited for….

Oh Yeah…1984: Billy Smith vs. Bobby Clarke

SNY’s show, Oh Yeah…, looks back to goaltender Billy Smith’s clash in 1984 with Bobby Clarke of the Flyers.

Oh Yeah… takes viewers on a trip down memory lane by re-visiting the most entertaining, offbeat, and perhaps forgotten local sports topics over the past 40 years with each episode devoted to a specific year. New episodes air Sundays at 10 pm on SNY.

Charles Wang

Wang sued for backing out of deal to sell Isles

Charles Wang has been hit with a $10 million lawsuit for backing out of a handshake agreement to sell the team to Andrew Barroway (NYDN, August 11).

Barroway claims that Wang agreed to sell the Islanders for $420 million, but backed out after the Los Angeles Clippers sold for $2 billion. Barroway claims that Wang tried to up the sale price to $548 million.

The handshake agreement took place on March 10. On June 10, Wang tried to back out of the deal.

When Barroway refused to pay more than already agreed upon, Wang informed him that he had decided to sell the Islanders to other bidders on August 1.

“The deal negotiated in March called for NY ICE to acquire 100% of the equity in the Islanders and Wang’s corporations, CBW Inc. CBW LP and CBW LLC, would get a 25% interest in NY ICE,” according to the Daily News.

The $10 million being sought in this lawsuit is to recoup costs and losses in preparing this deal.

Tavares among top 50 highest rated players in NHL 15

Christian Arnold, Islanders Point Blank:

Hockey fans know that the season is right around the corner when EA Sports releases it’s NHL video game series in september each year. To give fans a taste of the latest version of the series, NHL 15, EA released a list of the top 50 highest rated players in the game.

And sitting at number 17 on the list is New York Islander captain John Tavares. John Tavares NHL 15 Rating

The 24-year-old Islander forward will have a 91 overall rating in the game when it comes out. According to EA Sports, “player ratings are based on scouting reports provided by a professional NHL Scout and take both a player’s offensive and defensive abilities into consideration.”

Out of the six categories that a player is rated in, Tavares has five stars in three — puck skills, shooting, and senses — and four and a half stars in the other three categories — skating, physical, and defense.

Tavares is second highest rated player among members of a New York area team. Only the Rangers’ Hernik Lundqvist (93 overall rating) is higher on the list than the Islander forward. Lundqvist is ranked seventh by EA Sports.

Jonathan Toews (93 overall rating), Steven Stamkos (93 overall rating), and Sidney Crosby (96 overall rating) are the three highest rated player in NHL 15.

Isles mascot challenged to ‘Ice Bucket Challenge’

Christian Arnold, Islanders Point Blank:

When it comes to hockey news, August is a barren wasteland. So we bring you a “non-hockey” hockey story.

If you have spent anytime on the internet over the last few days you’ve seen numerous hockey stars taking part in the “Ice Bucket Challenge.” Participants dump buckets of ice water onto their heads to help raise awareness for ALS, also known as Lou Gehrig’s disease. NHL stars such as Craig Adams, Zdeno Chara and Sidney Crosby have all accepted the challenge… And now the Islanders have gotten in on the fun via their AHL affiliate, the Bridgeport Sound Tigers.

Apparently Storm was challenged by Hartford Wolf Pack mascot, Sonar. Part of the “Ice Bucket Challenge” is to also challenge friend to complete it within 24 hours. So who did Storm challenge next? Well among other AHL mascots, Storm challenged the Islanders’ mascot, Sparky the Dragon. We will see if Sparky is up for the challenge soon enough.

Can you tell it’s a slow Islanders’ news day week month?

Capuano still believes in Josh Bailey, but Isles need him to produce

Christian Arnold, Islanders Point Blank:

There is no question Josh Bailey struggled in the 2013-14 season, but the Islander Head Coach Jack Capuano has not lost faith
in the 24-year-old forward. The Islander coach was asked during an interview with Islanders Insight.com about Bailey’s struggles last year and how the team was planning to help him take the next step in his development.

USATSI_7833466_110579513_lowres“As a coach I believe in these players and everybody is going to go through it,” Capuano said to Andy Graziano about Bailey’s struggles. “No matter what sport it is. You’re going to go through a tough stretch… When Josh is given the confidence and playing the way that he can play he can help our hockey club. I think it’s the past. I think Josh knows the second half of the year was good for him. Obviously he didn’t get off to the start that he wanted to and be consistent in the play that he wanted to. The potential is there, so as a coaching staff it’s our our goal and our job to make sure that we maximize each player’s potential.

“And I see Josh just growing as a player and getting better. I feel he’s going to have a much better year.”

Bailey did not have the year everyone was hoping for despite starting the season strong. In the first 12 games Bailey recorded eight points (four goals, four assists) before his point production plummeted off the map. He would go a span of 44-games, from October 25th to January 23rd, without a goal. Bailey would go another 14-games without finding the back of the net after that. To read more of this story, click here

Islanders offseason moves earning praise among hockey media

Christian Arnold, Islanders Point Blank:

It’s not too often that the Islanders receive praise from any national media outlet, especially when it comes to their offseason moves.

Following their 2013 playoff run, the Islanders had one of their least impressive offseasons they have had in quite some time. Believing that they had the talent already on the roster, general manager Garth Snow signed Pierre-Marc Bouchard and Peter Regin as the Islanders “major” free agency moves. As everyone knows, that did not work and Regin and Bouchard were shipped off to the Chicago Blackhawks in early February. To read more of this story, click here

No news on possible sale of team; Barroway no longer interested

The NHL confirmed that it’s up to the Islanders to announce the team’s ownership status. The Islanders say nothing has changed (Steven Marcus, August 5).


1:50 p.m.: Andrew Barroway, the Philadelphia hedge fund manager previously interested in buying the Islanders, has “ceased negotiations” to purchase the team (Marcus, August 5).


Talk of the team’s current owner Charles Wang attempting to sell his majority stake in the team have floated in the last few years, gaining steam again in February and March of this year.

Still, nothing has been announced as of yet, despite reports over the last few months.

Wang has been the majority owner since 2004. The team will be moving to Barclays Center in Brooklyn after this season, regardless of ownership status.

Photos: Cool Islanders Memorabilia

Christian Arnold, Islanders Point Blank:

On Thursday we looked at a great moment in Islander history; Bob Nystrom’s game winning goal in Game 6 of the 1980 Stanley Cup Finals.10314465_10202892310802343_2932508409974613545_n

Well, one lucky Islanders Point Blank reader has a piece of history from that day. IPB read Barry won an auction last year held by Heritage Auctions for Nystrom’s game worn jersey. As was noted in IPB’s article last year, the jersey shows obvious signs of wear and tear and has the Olympic patch on the left arm commemorating the 1980 winter games held in Lake Placid. Nystrom’s goal began the Islanders run of four straight Stanley Cups, which eventually ended in 1984.

Barry also owns a handful of other collectible jerseys, including  a game worn Denis Potvin sweater, a Butch Goring jersey from the 1982 Stanley Cup Finals and a John Tonelli jersey worn during the 1984 Stanley Cup Finals against the Oilers.

To read more of this story, click here