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Islanders for sale?

According to the New York Post's Josh Kosman, the New York Islanders may finally be facing the one personnel move that may free them from their status as professional cellar dwelers: it appears that Charles Wang may very well be ready to finally divest his interest in the dysfunctional team:

The New York Islanders appear to have started a new effort to find a buyer, The Post has learned. Owner Charles Wang has been in talks with The Raine Group, a Manhattan investment bank, regarding the sale of the money-losing team, two sources said.

Talks between Wang and Raine are said to be preliminary and the team owner hasn’t hired Raine — so the effort could lose steam.

An Islanders spokesman said there is no truth to the story. Raine could not be reached for comment.

Over the last few years, sources said, Wang has quietly let it be known that he is open to selling the National Hockey League team — although no formal sales process was established.

Wang was hoping to sell the team for around $300 million, which some, sources added, thought was unrealistically high.

Continued

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Comments

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Please God make this story true.

Posted by NHL fan on 02/16/13 at 02:00 PM ET

Hippy Dave's avatar

Bring ‘em to Seattle!

Posted by Hippy Dave from Portland by way of Detroit on 02/16/13 at 03:28 PM ET

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wow that would be great.  He’s made the once proud franchise a joke.

On the downside I won’t be able to see the yearly growth progress of the chubby kid he brings up on stage with him at the yearly draft.  Hopefully the kid starts thinning out.

Posted by tbassett on 02/16/13 at 03:34 PM ET

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Now the Russian mob can buy them too.

Posted by timbits on 02/16/13 at 04:37 PM ET

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About Kukla's Korner Hockey

Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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