Kukla's Korner Hockey
by George Malik on 02/16/13 at 01:59 PM ET
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.
Add a Comment
Please limit embedded image or media size to 575 pixels wide.
Most Recent Blog Posts
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.
Email Paul anytime at firstname.lastname@example.org