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.

Video: Ho-Sang shows off skills in shootout

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Christian Arnold, Islanders Point Blank:

There is no debate that Islanders prospect Joshua Ho-Sang has skills on the ice.

It was on display during the Islanders’ mini camp in July and Ho-Sang showed it off again on Tuesday at BioSteel Camp on Tuesday. During a shootout competition the 18-year-old executed a pretty impressive trick shot.

The Islanders have certainly had some danglers come through the organization. You can add Ho-Sang to that list. 

Times are changing in Islanders country

Christian Arnold, Islanders Point Blank:

It has been a summer of change for the Islanders this year.

Charles WangInvestment into a quality product on the ice, a new building on the horizon and now an end to the ownership drama that has been the part of the team’s narrative for the last few months, if not years. It is a means to an end for the team and their fan base that may finally being seeing the light at the end of the tunnel.

Charles Wang’s ownership of the Isles has been a bumpy road and has — as development projects have failed and the team struggled on the ice — divided the team’s fan base over their perception of him. Some like him and others… well, they were not too thrilled with his management of the team.

But with the announcement of new ownership of the Islanders there is renewed hope from fans. That’s not to anoint Jonathan Ledecky and Scott Malkin as saviors of the team just yet. In fact, they won’t own the team outright until 2016. For now they will be minority owners of the team — pending league approval — until their majority stake kicks in. To read more of this story, click here

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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….