Skip navigation
Favorites
Sign up to follow your favorites on all your devices.
Sign up

Report: Wang seeking to sell Islanders

Mayor Bloomberg And Islanders Owner Announce Plan For Team To Play In Brooklyn

NEW YORK, NY - OCTOBER 24: New York Islanders owner Charles Wang announces the team’s move to the Barclay Center in 2015 at a press conference at the Barclays Center on October 24, 2012 in the Brooklyn borough of New York City. (Photo by Bruce Bennett/Getty Images)

Getty Images

According to Josh Kosman of the New York Post, Islanders owner Charles Wang is trying to sell the team.

The report says Wang is in preliminary talks with Manhattan investment bank, The Raine Group to sell the team to them. The price tag Wang is seeking out for his money-losing franchise is a sky-high $300 million. Considering the Islanders aren’t drawing well on Long Island (only the Coyotes draw worse at home) and are due to move to Brooklyn in 2015, he might be setting his target amount a wee bit too high.

That said, the fact the team is moving to a better location closer to New York City does make them more attractive to potential buyers. Finding someone willing to come up with Wang’s insane asking price or something close to it might prove to be difficult.

For what it’s worth, the Islanders have denied the report and said there’s no truth to it. There’s a grain of salt to be taken for this whole thing.