Charles Wang

Wang sells Isles to ex-Caps owner Ledecky


Huge news from Long Island on Tuesday — per Newsday, Islanders owner Charles Wang has agreed to sell the team to a familiar face in NHL circles:

Ledecky is best known as the former minority owner in Washington. In 2001, he sold his 24 percent share in the team to current owner Ted Leonsis which, according to the Washington Times, would allow Ledecky to pursue buying another sports franchise:

Leonsis and Ledecky did not disclose a price for the transaction, but Ledecky, a well-known District entrepreneur, said he made a “healthy, 10-figure profit” on the $58 million he invested in May 1999.

Ledecky is now free to pursue a pro sports team of his own, as has been his long-stated ambition. He unsuccessfully sought interests in the Los Angeles Dodgers and Cincinnati Reds before purchasing the Caps from [Abe] Pollin two years ago, and last fall he came close to buying the Montreal Canadiens.

As for Wang, this move would end his lengthy, contentious ownership of the Isles. Reports have been surfacing for months about his desire to sell the team, this after the failed Lighthouse Project and mounting financial losses. The 69-year-old 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.

As mentioned, Wang also 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.”

Should the sale to Ledecky and Malkin be approved by the NHL’s Board of Governors, it’ll mark a change in ownership just one year before the Isles leave Long Island and relocate to Brooklyn, where they’ll play at the Barclays Center beginning in 2015-16.

UPDATE: The Isles have addressed and confirmed the transaction, courtesy this statement…

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.”



Report: Wang ‘furious’ over report he’s exploring sale of Isles

Wang being sued for $10 million for not selling Islanders

Kings GM says Mike Richards went into ‘a destructive spiral’

Mike Richards

The Los Angeles Kings may owe Mike Richards money until 2031 (seriously), but in settling his grievance, the team and player more or less get to turn the page.

Not before Kings GM Dean Lombardi shares his sometimes startling perspective, though.

Lombardi has a tendency to be candid, especially in the press release-heavy world of sports management. Even by his standards, his account of Richards’ “destructive sprial” is a staggering read from the Los Angeles Times’ Lisa Dillman.

“Without a doubt, the realization of what happened to Mike Richards is the most traumatic episode of my career,” Lombardi said in a written summation he provided to the Los Angeles Times. “At times, I think that I will never recover from it. It is difficult to trust anyone right now – and you begin to question whether you can trust your own judgment. The only thing I can think of that would be worse would be suspecting your wife of cheating on you for five years and then finding out in fact it was true.”

Lombardi provides plenty of eyebrow-raising statements to Dillman, including:

  • He believed he “found his own Derek Jeter” in Richards, a player who “at one time symbolized everything that was special about the sport.”
  • Lombardi remarked that “his production dropped 50 percent and the certain ‘it’ factor he had was vaporizing in front of me daily.”
  • The Kings GM believes that he was “played” by Richards.

… Yeah.

Again, it’s a powerful read that you should soak in yourself, even if you’re unhappy with the way the Kings handled the situation.

Maybe the most pressing of many lingering questions is: will we get to hear Richards’ side of the story?

Coyotes exploit another lousy outing from Quick

Jonathan Quick

Despite owning two Stanley Cup rings, there are a healthy number of people who aren’t wild about Jonathan Quick.

Those people might feel validated through the Los Angeles Kings’ first two games, as he followed a rough loss to the San Jose Sharks with a true stinker against the Arizona Coyotes on Friday.

Sometimes a goalie has a bad night stats-wise, yet his team is as much to blame as anything else. You can probably pin this one on Quick, who allowed four goals on just 14 shots through the first two periods.

Things died down in the final frame, but let’s face it; slowing things down is absolutely the Coyotes’ design with a 4-1 lead (which ultimately resulted in a 4-1 win).


A soft 1-0 goal turned out to be a sign of things to come:

Many expected the Kings to roar into this second game after laying an egg in their opener. Instead, the Coyotes exploited Quick’s struggles for a confidence-booster, which included key prospect Max Domi scoring a goal and an assist.

It’s worth mentioning that Mike Smith looked downright fantastic at times, only drawing more attention to Quick’s struggles.


After a troubled summer and a failed 2014-15 season, Los Angeles was likely eager to start things off the right way.

Instead, they instead will likely focus on the fact that they merely dropped two (ugly) games.