Report: Wang In Talks To Sell The Islanders
NEW YORK (CBSNewYork) – New York Islanders owner Charles Wang has been in talks with a Manhattan investment bank regarding the sale of the team, the New York Post has reported.
Post sources say that talks between Wang and The Raine Group are preliminary. A spokesman for the Islanders told the newspaper that there was no truth to the story.
The Islanders, who average the second lowest attendance in the NHL, announced that they will be moving to Brooklyn's Barclays Center in 2015, a move expected to help reboot the fan base. They signed a 25-year agreement with the new facility.
Wang's team, led by super talent John Tavares, lost over $10 million last season, the Post reported.
The Isles are 5-7-1 through 13 games of the lockout-shortened NHL season. They have not made the playoffs since the 2006-07 campaign where they were bumped out in the first round by the Buffalo Sabres.
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