Isles' owner announces sale of team
August 19, 2014
By The Associated Press
UNIONDALE, N.Y. (AP) - The New York Islanders have announced that the team is being sold to a former Washington Capitals co-owner and a London-based investor.
In a statement Tuesday, the team says a group led by former Capitals co-owner Jon Ledecky and investor Scott Malkin has reached an agreement to buy a ''substantial'' minority interest in the team.
Terms were not immediately disclosed.
The team says under the agreement, current owner Charles Wang will continue as majority stockholder for two years. At that point, ownership will transfer to the Ledecky-Malkin group.
The team, which was founded in 1972, has announced plans to move from Long Island to Brooklyn following this season.
Copyright 2018 by STATS LLC and Associated Press.
Any commercial use or distribution without the express written
consent of STATS LLC and Associated Press is strictly prohibited.
5-1 G-Plays, 26-12 Picks, +2,383
4-2, +220 NHL Last 3 Days
10-5 L15 Guaranteed Plays
+395 L4 Days, +1,217 Overall
With a VI Gold Membership, you can SAVE 20%
off Daily Pick packages, SAVE 10%
off a Live Odds subscription, and receive access to up to 1,000
Member Plays each month!