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Wang May Sell Islanders

NY Islanders owner may sell major stake in suffering franchise.

Charles Wang is reportedly in talks to sell off majority stakes in the New York Islanders, according to TSN.

Wang, who has owned the franchise since 2004, is reportedly talking to buyers about a possible sale of the majority of stakes, said the report.

"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," tweeted TSN's Bob McKenzie early Friday morning.

The Islanders lose a reported $10 million per season and the franchise could face a $75 million loan repayment at the end of this season, said TSN.

Selling the team could have an effect on the team's relocation to Brooklyn, but whether or not the process would speed up with a sale is unconfirmed.

The team is scheduled to move to Brooklyn's Barclays Center and begin a 25-year lease for the 2015-16 season.

What do you think of the latest chapter in the NY Islanders saga? Tell us in the comments.

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knee jerk March 31, 2014 at 11:29 AM
Yes, Stevo, but at least they haven't moved away.
Stevo April 01, 2014 at 09:25 AM
Away? They are moving to Brooklyn, not Toronto!! They are still a Long Island team.
knee jerk April 01, 2014 at 10:01 AM
It might as well be Toronto. I'm sure they have a huge fan base in Brooklyn.
Stevo April 01, 2014 at 02:24 PM
knee jerk - that's dumb. but I wouldn't expect anything more from a Ranger fan.
knee jerk April 01, 2014 at 03:55 PM
Bill Torreys' Islanders success plan: finish dead last for four or five years, receive a bunch of low draft picks (who we don't have pay much money to), plug in some veteran role players (who we don't have to pay much money to)and win Stanley Cups until the team either gets old or expensive, then sell off the pieces. Cheap franchise right from the start, nothing magical about those teams. They were stacked with low draft picks, which no longer can work due to the increased number of teams diluting the draft. How well has that worked in the 30 years since?


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