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.

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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.

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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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