It has been reported that New York Islanders owner Charles Wang is in discussion to sell his majority share of the franchise, although he has been quoted as saying that “nothing in imminent” in regards to that news. Bob McKenzie first broke the News via twitter:
NYI owner Charles Wang in talks to sell majority stake in NHL franchise. Nothing done yet, no telling if it gets done, but talks underway.
— Bob McKenzie (@TSNBobMcKenzie) March 28, 2014
It has also been reported by islanderspointblank.com that his asking price for the Islanders would be in the neighborhood of $300 million.
Wang has been at least a partial owner of the Isles since 2000. During his tenure as owner the Isles have not been a successful on ice team, making the playoffs only five times and never advancing past the first round.
Wang’s purchase of the team brought stability to a franchise that was, and I’m being polite, completely mismanaged in the late 90’s. In recent years though, Wang has seemed to come under more scrutiny from Islander fans for his management of the team, and, more precisely, his unwillingness to bring the team’s salary above the NHL’s mandated cap floor.
There can be no question that Wang has made some head scratching personnel moves during his ownership of the team, especially when it comes to his general managers. The Neil Smith experiment and the subsequent hiring of then back-up goaltender Garth Snow to be the GM being the most notable. However, he must be applauded by the fan base for his loyalty to this area. In my opinion is one of the few owners that would have pushed to keep the Islanders on Long Island as hard as he did. Ultimately he made the decision to move the franchise to the Barclays Center in Brooklyn, but Islander fans know the team could have ended up much farther away than that.
Tags: New York Islanders