Kukla's Korner Hockey
New York Islanders Announce Group Has Purchased A Minority Interest In The Team
by Paul on 08/19/14 at 12:41 PM ET
Comments (1)
UNIONDALE, NY (August 19, 2014) – The New York Islanders announced today that a group led by former Washington Capitals co-owner Jon Ledecky and London based investor Scott Malkin has reached a definitive agreement, subject to NHL approval, to purchase a substantial minority interest in the team. Under the terms of the agreement, Charles Wang will continue as majority shareholder and Governor of the Islanders, with the Ledecky/Malkin group transitioning to majority owner in two years.
“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,” Mr. Ledecky said.
“I’m thrilled that Jon and Scott have agreed to join me as we start the Islanders’ final year at Nassau Veterans Memorial Coliseum,” Mr. Wang said. “I look forward to a long and successful partnership.”
There will be no further comment until the NHL completes its franchise ownership transfer process.
added 1:49pm, from Arthur Staple of Newsday,
Charles Wang has agreed to sell a minority stake in the Islanders to Jonathan Ledecky, a former co-owner of the Capitals, and investor Scott Malkin, according to a high-ranking NHL source. Ledecky and Malkin will assume majority control of the team in two years.
Filed in: NHL Teams, New York Islanders, | KK Hockey | Permalink
Comments
Add a Comment
Please limit embedded image or media size to 575 pixels wide.
Add your own avatar by joining Kukla's Korner, or logging in and uploading one in your member control panel.
Captchas bug you? Join KK or log in and you won't have to bother.
Most Recent Blog Posts
Video- Mike Babcock On His Past
A Backup Goalie Needed In Denver
Is Coaching An Issue For The Montreal Canadiens?
Playoff Chances Continue To Sink For The Vancouver Canucks
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 pk@kuklaskorner.com
A great day? Perhaps in 2 years till that clown Wang is gone - but - I suppose this is a step in the right direction.
Posted by Kaszycki and his Krew on 08/19/14 at 03:34 PM ET