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

[stranger34]

Wang ain't no dummy, but are you trying to imply that Ledesky and Malkin are stupid? I'm sure those two have had their share of shrewdness dealings. One simply doesn't become that wealthy without it.

And really, when are you ever thrilled with anything?

IDK I guess I have a different threshold for thrilled than some.

I'm not about to get excited about a $548M purchase of the NYI where the new owners cede control to Charles Wang for 2 years.

Something doesn't add up. The price is exorbitant and they wait 2 years? Are they NHL guys who are just the face and means by which the NHL gets Charles to go away? Something just doesn't add up here.

 

[Poulin 0n My St1ck]

Where are we celebrating right now?

Sucks I just finished my internship in Downtown Brooklyn, because I'd be partying right around the corner from the Barclays Center.

 

[Strummergas]

IDK I guess I have a different threshold for thrilled than some.

I'm not about to get excited about a $548M purchase of the NYI where the new owners cede control to Charles Wang for 2 years.

Something doesn't add up. The price is exorbitant and they wait 2 years? Are they NHL guys who are just the face and means by which the NHL gets Charles to go away? Something just doesn't add up here.

Who's to say that they fork over the total amount up front? Maybe they pay installments on the $548M over the course of 2 years with the bulk of the cost paid when Ledecky and Malkin take over majority ownership?

And believe me, I'm not exactly jumping up and down with excitement over here either. Wang hangs around and calls the shots for two more years, and then will be lurking in the shadows even after the majority of ownership changes hands. Not exactly ideal. But I'm also not busting out the magnifying glass and playing Sherlock Holmes looking for clues in order to expose some convoluted conspiracy that involves Wang ruthlessly duping these two very successful businessman out of their cash while on his path to become the supreme overlord of the world.

I'm happy with today's news. It combined with the offseason the team has had seemingly points to good things for the future of this team. It may not work out, but I'll deal with that if and when it comes to that point.

 

[MatthewBarnabysTears]

Wang ain't no dummy, but are you trying to imply that Ledesky and Malkin are stupid? I'm sure those two have had their share of shrewdness dealings. One simply doesn't become that wealthy without it.

Unless you're born into it

 

[Strummergas]

Unless you're born into it

If you're born into it, then you haven't become wealthy. You've been wealthy since Day 1.

 

[charlie1]

Well call me late to the party. This is fantastic.

 

[denis]

Even if that $548 is real, that's not what they will be paying; that's the valuation of the franchise. They will instead pay a portion that's equal to the percent of the franchise that they will own. It was to be the same with Barroway, just now the value of the franchise has been set higher.

 

[MartyC]

I have a hunch that Wang wants to protect Garf.
Would've stalled the Barroway deal and a 2 year 'probabtion' allows snows move to either bear fruit or fail.

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?

 

[replayer]

There's a lot of speculation on this thread regarding the two years, but I'm withholding too much comment until we know more.

These are not clueless people, they're both phenomenally successful men who have proven they know what they're doing with regard to their businesses. I'm sure that as we learn details, we'll find out more about what their input is into the hockey operations until they take over majority ownership.

IANAL, but I'm SURE they will have a significant standing in some way to prevent Wang from making any moves that will damage the equity they will have in the Islanders as minority owners. (i.e. They would have the ability to prevent him from selling Tavaras and Okposo to the Rangers for the rights to Janne Niinimaa and an Al Arbour Halloween mask.)

It's good news, let's be patient as we learn more.

 

[FourRings]

Which goes to my earlier point, at least regarding Brooklyn. It's reported that Wang gets a flat fee to play in Brooklyn. Win or lose, sell 1 ticket sell 1 million Wang gets paid. So how does Wang maximize his last two years? Dump expenses before moving into Brooklyn, get paid his flat fee, then let the new owners build on their dime while he continues to collect his minority stake, once the team is successful and their value is higher sell the minority stake. Make a profit when the team stinks and make a profit when they are good.

You have to admit it's not a dumb play.

Like I said playing the angles.

This man has been dishonest in so many of his past dealings I think a grain of salt is warranted. Unless Islanders fans want more disappointment.

He played the angles VERY well..I think he did this to profit the first year in BK while earning the money on someone else's dime.

 

[2ndGenIslander]

wow this completely came out of left field. who is Jon Ledecky? What does he even do

 

[rollin109]

He played the angles VERY well..I think he did this to profit the first year in BK while earning the money on someone else's dime.

Absolutely...he knows their last year at the Coliseum and their first year In Brooklyn will both be big money makers and he wants the majority share of that.

 

[blitzkriegs]

He played the angles VERY well..I think he did this to profit the first year in BK while earning the money on someone else's dime.

It's a big finger to Nassau - and take two years to rebuild his reputation. If Isles so well in BC, then people look at Nassau as a big fail and Wang had nothing to do with it. He 'saved' the franchise and covered his 'losses' and all the penny pinching was bc of NVMC and Nassau.

 

[stranger34]

Who's to say that they fork over the total amount up front? Maybe they pay installments on the $548M over the course of 2 years with the bulk of the cost paid when Ledecky and Malkin take over majority ownership?

And believe me, I'm not exactly jumping up and down with excitement over here either. Wang hangs around and calls the shots for two more years, and then will be lurking in the shadows even after the majority of ownership changes hands. Not exactly ideal. But I'm also not busting out the magnifying glass and playing Sherlock Holmes looking for clues in order to expose some convoluted conspiracy that involves Wang ruthlessly duping these two very successful businessman out of their cash while on his path to become the supreme overlord of the world.

I'm happy with today's news. It combined with the offseason the team has had seemingly points to good things for the future of this team. It may not work out, but I'll deal with that if and when it comes to that point.

"Happy" that's a term and level I can get on board with. Happy and cautiously optimistic

 

[First Blood]

 

[BroadwayJay*]

wow this completely came out of left field. who is Jon Ledecky? What does he even do

Venture capital/philanthropy/former part-owner of the Washington Capitals

 

[HawksIsles]

Guys, i'm super worried about this.
If you are going to purchase something that cost hundreds of millions of dollars, why would you let someone else control it for 2 years?

Why would the new owners agree to this kind of arrangement?
I fear there is some sort of "out" clause

 

[BroadwayJay*]

Guys, i'm super worried about this.
If you are going to purchase something that cost hundreds of millions of dollars, why would you let someone else control it for 2 years?

Why would the new owners agree to this kind of arrangement?
I fear there is some sort of "out" clause

Are you being serious?

 

[SI90]

This Malkin guy comes from some crazy family money.

 

[blitzkriegs]

Are you being serious?

Can't wait for a $548 dollar team leaving Brooklyn to back to the suburbs...yeah, ok, keep dreaming.

 

[MJF]

So this ends Charles Wang's Reign of Error.

Now what happens during the 2 years before Ledecky and Malkin gain a majority interest in this team?

 

[HawksIsles]

Are you being serious?

deadly serious.
tell me when was the last time a pro team was purchased but the new owner(s) didn't take control right away? I can't think of one.

 

[stranger34]

So this ends Charles Wang's Reign of Error.

Now what happens during the 2 years before Ledecky and Malkin gain a majority interest in this team?

Perhaps nothing, possibly all he'll breaks loose, probably something halfway between the two

 

[Isles Fan]

Finally we have a story. confirmed by both sides and the league.

Skeptical about the arrangement but cautiously optimistic.

 

[stranger34]

deadly serious.
tell me when was the last time a pro team was purchased but the new owner(s) didn't take control right away? I can't think of one.

This is chief of what concerns me, it's very peculiar.

We also have a gang ownership now that involves Charles Wang... Someone who isn't exactly known to play nice in the sandbox. Yes I'm sure these guys are shrewd businessmen but likely so was Barroway. When shrewd meets unscrupulous, unscrupulous usually wins out in the short term.