NY Islanders Sale Talk ONLY Part IV **Post 400, Isles SOLD**

[First Blood]

We're not legit. The POS is still head of the team for 2 years.

 

[lorwood]

I hope these 2 guys are legit. I hate the Idea of a two-headed ownership unless it's the New York Giants. I hope these guys are serious about win in and what it means to play in New York. I don't know either of them besides the guy involved with WSH but WSH hasn't done anything special. Let's just hope the main goal for the new ownership is to win at any and all costs. Not making profits and pinching pennies.

I hope these guys close the deal today and then walk away for two years and have zero dealings with Wang. Let Wang have his two years. Don't be around the team don't even go to games, heck don't even watch on TV. Then when the day comes in 2016 walk in and have security escort Wang out of the building.

Any dealings with Wang beyond this initial deal could spell disaster.

Don't believe me? Ask old Sanjay how things are working out for him.

 

[Seph]

Wow, this offseason just keeps getting better.

 

[BroadwayJay*]

Who reads his convoluted stuff?

The morning of the day the Isles signed Grabovsky, I sent him a tweet asking if the Isles had any interest in Grabovsky and he said "no."

Three hours or so later Stape was reporting the signing.

 

[Bones45]

 

[labbatt]

From a Buffalo fan, this is great news for your organization. No team should be held hostage by a bad owner. Congrats Islanders you deserve it.

 

[Le Grec]

I'm just relieved the new team will be in control by the time Tavares will need an extension

Very good point...

 

[BillD]

Hate too rain on everybody's parade but it's two years with Wang. Two years is a loooooooooong time to deal with this maniac and a lot can happen. I for one have a bad feeling.

Why couldn't Wang just go any like any normal owner?

That occurred to me also. But hoping for the best outcome, we deserve it after all the torture.

 

[KingClipper]

From a Kings fan, congrats.

From a Clippers fan, congrats even more! I understand completely the **** your fanbase has been through with Wang, because Sterling was even worse. Pretty cool to see two of the worst owners in sports history finally lose their teams in the same summer. Hopefully in two years Wang lets the new owners' transition to majority ownership happen without drama.

 

[doublechili]

Is it all about the jerseys and the real estate?

Malkin's company invests in and operates luxury shopping center village projects in Europe and CHINA. Maybe Charles finally gets his Lighthouse... in Beijing. And maybe in a few years they'll sell millions of Brooklyn jerseys at those stores in Europe and China (Ho-Sang?). Just saying.


"Value Retail PLC develops and operates luxury outlet shopping villages in Europe. Value Retail PLC has a joint venture, Value Retail China, to provide outlet solution for the China’s metropolitan markets. The company was founded in 1992 and is based in London, United Kingdom. It has locations in Milan, Munich, Dublin, Barcelona, Madrid, Paris, Brussels, Antwerp, Cologne, Düsseldorf, and Frankfurt."

http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4437992

 

[lorwood]

That occurred to me also. But hoping for the best outcome, we deserve it after all the torture.

The only reason I see Wang wanting two years is to collect the first years money from Brooklyn so he can maximize his return on this entire deal. This will mean a fire sale this year.

 

[Felix Unger]

The only reason I see Wang wanting two years is to collect the first years money from Brooklyn so he can maximize his return on this entire deal. This will mean a fire sale this year.

 

[Satan'sIsland81]

This might be a dumb question, I dont know too much about how shares in a business work. Lets just speculatively say that Wang retains 51% for the next two years and Malkin/Ledeky have 49%. Technically what say do the two new guys have about anything until they become majority owners? Again, technically speaking, couldnt Wang just say Oh I am trading Tavares and they say no, and Wang says too bad I have majority ownership. There is a top d-man available at the deadline and we are in the race, Malkin and Ledeky say lets bring him in and add the salary and Wang says no I want to cut salary.

This is why it is hard to be too excited yet, because with all that said, how is 49% ownership any different than 1% ownership if you still cant make any big decisions.

If i have this wrong, please explain.

 

[enigmatic]

The only reason I see Wang wanting two years is to collect the first years money from Brooklyn so he can maximize his return on this entire deal. This will mean a fire sale this year.

or he is hoping that his 25 pct will double in value within 5 years and he will essentially make another 25 pct for free...

 

[doublechili]

I guess those of us who believed there really was another deal turned out to be correct. Not that we're keeping score.

 

[YearlyLottery]

This might be a dumb question, I dont know too much about how shares in a business work. Lets just speculatively say that Wang retains 51% for the next two years and Malkin/Ledeky have 49%. Technically what say do the two new guys have about anything until they become majority owners? Again, technically speaking, couldnt Wang just say Oh I am trading Tavares and they say so no, and Wang says too bad I have majority ownership. There is a top d-man available at the deadline and we are in the race, Malkin and Ledeky say lets bring him in and add the salary and Wang says no I want to cut salary.

This is why it is hard to be too excited yet, because with all that said, how is 49% ownership any different than 1% ownership if you still cant make any big decisions.

If i have this wrong, please explain.

And what if these two owners are willing to pay for the big names with their OWN money the next two years? I highly doubt Wang will be spending much money next offseason, IMO it will be Ledecky and Malkin dealing out the cash.


Wang just wants th Rooklyn money most likely

 

[Chainshot]

Congratulations!

 

[leeroggy]

This might be a dumb question, I dont know too much about how shares in a business work. Lets just speculatively say that Wang retains 51% for the next two years and Malkin/Ledeky have 49%. Technically what say do the two new guys have about anything until they become majority owners? Again, technically speaking, couldnt Wang just say Oh I am trading Tavares and they say no, and Wang says too bad I have majority ownership. There is a top d-man available at the deadline and we are in the race, Malkin and Ledeky say lets bring him in and add the salary and Wang says no I want to cut salary.

This is why it is hard to be too excited yet, because with all that said, how is 49% ownership any different than 1% ownership if you still cant make any big decisions.

If i have this wrong, please explain.

Because if you have a contract for future performance you can sue the majority owner for screwing a minority owner.

Quote:
Originally Posted by lorwood View Post
The only reason I see Wang wanting two years is to collect the first years money from Brooklyn so he can maximize his return on this entire deal. This will mean a fire sale this year.
or he is hoping that his 25 pct will double in value within 5 years and he will essentially make another 25 pct for free...

The contract likely states a fixed dollar amount for the transaction two years later

 

[lorwood]

or he is hoping that his 25 pct will double in value within 5 years and he will essentially make another 25 pct for free...

Why wouldn't he want both? This is Wang we are talking about and I have no doubt that the two year deal is his way of squeezing every last buck out of the franchise before he goes.

I would not be surprised if the new owners came in to find al the pucks gone.

As far as current dealings between the new owners and Wang. IMHO it would be a big mistake to try and have any say with the team for the next two years. Wang is a snake and you can bet that he (in his mind) has a way out of this deal if everything does not go his way.

 

[Sorge Georos]

I guess those of us who believed there really was another deal turned out to be correct. Not that we're keeping score.

But didn't MattyBoy or whatever his name was insist that Wang did NOT sell to another bidder?

 

[seafoam]

But has Wang signed any documents?

 

[scott99]

I wanna be excited, just don't trust Wang. Now I will be on edge for 2 years more. I want him gone and away from this team for good.

 

[BillD]

This might be a dumb question, I dont know too much about how shares in a business work. Lets just speculatively say that Wang retains 51% for the next two years and Malkin/Ledeky have 49%. Technically what say do the two new guys have about anything until they become majority owners? Again, technically speaking, couldnt Wang just say Oh I am trading Tavares and they say no, and Wang says too bad I have majority ownership. There is a top d-man available at the deadline and we are in the race, Malkin and Ledeky say lets bring him in and add the salary and Wang says no I want to cut salary.

This is why it is hard to be too excited yet, because with all that said, how is 49% ownership any different than 1% ownership if you still cant make any big decisions.

If i have this wrong, please explain.

From a practical standpoint the majority partners (or equity shareholders) control the operations as you would expect. But there s nothing to say that the majority owner can not cede certain operational control or duties to a minority owner, such as a CEO of a public corporation has operational control subject to Board of Director approvals.
Someone has to make the decisions, and while it normally be the majority owner, he can designate an employee, executive, or other owner to do that.
What Wang will do in the two year transition period is up for speculation. He/they make some nice money in year one at the BC but will likely get a cash beating the last year at Nassau.

 

[enigmatic]

This might be a dumb question, I dont know too much about how shares in a business work. Lets just speculatively say that Wang retains 51% for the next two years and Malkin/Ledeky have 49%. Technically what say do the two new guys have about anything until they become majority owners? Again, technically speaking, couldnt Wang just say Oh I am trading Tavares and they say no, and Wang says too bad I have majority ownership. There is a top d-man available at the deadline and we are in the race, Malkin and Ledeky say lets bring him in and add the salary and Wang says no I want to cut salary.

This is why it is hard to be too excited yet, because with all that said, how is 49% ownership any different than 1% ownership if you still cant make any big decisions.

If i have this wrong, please explain.

you are correct in that technically wang has FULL control for the next 2 years with his majority ownership.....but usually this is a sign that the new owner's advice will be taken and that the ship has started to steer in the correct direction....

furthermore, any potential loss is now mitigated proportionally with the percentage he has sold......lets say the team lost 1 million last season (not true), wang would have that full burden......if he sold 49 percent, he would have only lost 510k....he should be more inclined to go for it....

the team doing well and selling tickets in brooklyn will do a lot to further increase what his future minority stake is worth (whether he wants to keep it or sell)....that should be comforting for people

 

[Strummergas]

Oh, just wait. He won't be the only one....