Charles Wang

Report: Wang in talks to sell Isles majority stake


Big news on the future of the New York Islanders, per TSN’s Bob McKenzie:

Wang, 69, became part-owner of the Isles in 2000, then assumed majority control in 2004 after buying out partner Sanjay Kumar.  The team has struggled both on the ice and financially since Wang’s been aboard, making the playoffs just two times while reportedly losing an estimated $10 million per season.

The Islanders are slated to move to Brooklyn’s Barclays Center beginning in the 2015-16 campaign, which would end their occupancy on Long Island, a place Wang has a long history with. He spearheaded the now-defunct Lighthouse Project — a proposal to transform the Nassau Coliseum and surrounding area into a modern suburban locale — which was voted down in 2011, two years after Wang said he regretted buying the Isles in the first place.

“If I had the chance I wouldn’t do it again,” Wang told Newsday at the time. “Never in my life, would I have anticipated this thing [Lighthouse Project] could be dragged out for seven, eight years.”

The timing of these proposed sale talks are interesting, as Wang and the Islanders are reportedly due to make a $75 million loan repayment at the end of this season.

It’s also worth noting this isn’t the first time claims have surfaced suggesting Wang was looking to sell the team. In 2012, the New York Post reported the Isles were available to be purchased… for an estimated $300 million.

GM says Blue Jackets are ‘off the rails’ right now

Leave a comment

On Monday, PHT discussed the Columbus Blue Jackets’ troubling start, even if it felt like it may be too early to raise concerns.

Apparently Blue Jackets management is a little shaken by the second 0-3-0 start in franchise history, however.

Columbus GM Jarmo Kekalainen shared his shock and dismay with the Columbus Dispatch’s Aaron Portzline on Tuesday.

“I’m surprised how, in just five days, we’ve gone from a very confident group to something that’s the opposite of that,” Kekalainen told The Dispatch on Tuesday. “Our confidence, our game … it’s off the rails right now.

Maybe losing to the Buffalo Sabres stings a little bit extra?

Kekalainen said “there’s no excuse for how we played in Buffalo,” pointing out that every team in the NHL is a “good team.”

Indeed, just about every squad boasts some dangerous weapons if they catch an opponent sleeping.

Portzline goes deeper on Columbus’ recent history of stumbling out of the gate, but consider the foreboding stretch coming up.

Next four games: Three out of four at home
Eight games following that: Seven out of eight on the road.

As you can see, winter is coming for Columbus, so they best get things together. All things considered, this is the right time for a wake-up call.

For bonus chuckles, here’s a photo of Kekalainen on a railing.

via AP

Personal reasons: No Ovechkin for Caps tonight

Alex Ovechkin
1 Comment

Alex Ovechkin won’t play for the Washington Capitals on Tuesday because of personal reasons, the team confirmed.

He entered the building considerably later than usual, but his presence at least opened the door for the possibility of No. 8 suiting up against the San Jose Sharks.

Instead, the Capitals will face the hot-starting Sharks without Ovechkin (personal reasons) and Nicklas Backstrom (injury).

That’s a tall order, yet it’s also an opportunity for Barry Trotz to prove his system is a difference-maker … and that the Capitals have the young players to take up the mantle when the big stars are out

This is how Washington’s forward lines may look tonight:

No, the Capitals have not shared details regarding what his “personal reasons” might be, by the way.