Per Bob McKenzie @TSNBobMcKenzie ,
“NYI owner Charles Wang in talks to sell majority stake in NHL
franchise. Nothing done yet, no telling if it gets done, but talks underway.”
Minutes after Bob McKenzie dropped this bomb on
#Isles Twitter, the reactions came fast a furious and continued into the coming
days. Some fans who hate Charles Wang
and Garth Snow began a jubilant celebration and wanted a deal done in the next 5
minutes, while others found it interesting and would wait for the coming
details.
After absorbing the news, I thought that
whatever might happen would take some time, although I did think
it was possible for ownership and a potential buyer to reach a deal prior to
what will be another pivotal off season for the Islanders. With the final season as a tenant in the
NVMC coming in 2014-15, The Isles are ready to close out their stay in Nassau
County in a memorable way. Soon after that,
they can take a big step into the future by way of a move to Brooklyn for the 2015 season. What I don't want is a long, dragged out
horror show that the fans struggle with.
Initially, some speculated that the Barclay’s
group may be in the running to take over their incoming tenants from
Uniondale. Russian Billionaire and Nets owner, Mikhail Prokhorov was
the logical source for the rumor. Per Katie Strang. "For those wondering about Prokhorov's
potential interest, his spokeswoman referred me to previous statements he's
made on matter. Assuming that means
when he has previously stated that he has "no interest in purchasing
another team at this time." Once
again, Prokhorov’s camp denied the rumor.
The one thing that
was true about McKenzie’s claim that Charles Wang was in talks to sell the
team. All of it. Per Chris Botta, “SBJ: NHL source confirms Bob Mc's Isles sale
talks tweet. But source says: 1. Deal far from complete 2. Wang furious over
news leak.” Botta added, “Wang regained
control of biz ops in Feb. for rest of Isles time in Nassau. Nets group had run
all areas except hockey since July.”
Wang’s statement,
”In recent months, there have been numerous expressions of interest in the
purchase of the New York Islanders. As I have consistently stated, I have been
and remain willing to listen. However, potential buyers expressions of interest
in the team or even my listening to them does not mean that any deal will be
reached."
The reported
purchase price is $225 million, with an additional $75 million if the team hits certain
revenue clauses. On the plus side for
ownership, the Isles will receive $50 million guaranteed from the Barclays
annually and $27 million annually from Cablevision. With the Barclays and Cablevision annual
guarantees, along with the change in venue
for the team, $10 million in losses for a given season is most likely a thing of the grim
and soon to be forgotten past.
On Friday,
Syracuse.com posted an article about a potential buyer. AHL, Syracuse Crunch Owner, Howard
Dolgon. It mentioned that he will soon be speaking with a friend of his who has
deep enough pockets to bankroll investigating a possible bid for the NHL's New
York Islanders.
Per Lindsay Kramer, “From the day he brought the
Crunch to Syracuse 20 years ago, Dolgon has said his ultimate goal is to own an
NHL team. Dolgon has a home on Long
Island close to where the team currently plays and is a native of Brooklyn,
where the Islanders are relocating in 2015-16.
Dolgon has said he will never give up
controlling interest in the Crunch and re-iterated that stance on Friday. If he
became involved with the Islanders he could still operate the Crunch, although
presumably Syracuse will remain in its long-term affiliate with current parent
club Tampa Bay.”
It was also revealed that Dolgon was contacted
by John Spano about buying in to Isles Ownership just before Spano was
uncovered as a fraud.
Recently, the N.Y.
Post identified a potential buyer as Andrew Barroway. Barroway was in talks
to purchase the N.J. Devils last year, including a $30M loan to make
payroll, but backed out after checking their books. Aside from backing out of the Devil’s opportunity, Barroway
missed out for a bid on the NBA’s Philadelphia 76’ers.
UPDATE: Former Islander, Pat Lafontaine is rumored to be part of the Barroway camp.
UPDATE: Former Islander, Pat Lafontaine is rumored to be part of the Barroway camp.
As an interesting
side note, Chris Botta reminds us, “Isles bidder Andrew Barroway was a
plaintiff in 2007 lawsuit against Charles Wang and other Computer Associates
execs.”
So it looks like we
will once again sit back and wait for details to trickle through the cracks in
Isles country. I am hopeful that this
franchise can finally get the support it needs and start reliving some of the
glory it once remembered. The fans will remember how to react. Trust me.
Isles Notes:
Per Chris Botta,
“SBJ Exclusive: Nets mgt hires Gameplan agency of Chicago to market Isles in
Brooklyn. Branding, 3rd jersey.”
Per NYI, “@ColinMcDonald13 was named the Masterton
Memorial Trophy nominee for the team by @ThePHWA.”
Per Chris
Triantafilis, “Kirill Pertrov went 14-15-29 in 53 KHL games this season - same
point total from a few seasons ago. Figure his name will pop up soon.”
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