Report: New York Islanders sold

Tuesday August 19th, 2014

Maybe Charles Wang found his $548 million buyers after all.

Just one week after a collapsed deal led to the filing of a lawsuit by a jilted buyer, Arthur Staple of Newsday is reporting that the New York Islanders are finally, actually, truly being sold. He identifies the new buyers as Jonathan Ledecky, a former co-owner of the Washington Capitals who sold his 24 percent stake in the team in 2001, and Scott Malkin, the chairman of Value Retail, parent company of several shopping centers that include Bicester Village in England, reportedly the most productive shopping center in the world.

Of course, this being the Islanders, the sale couldn't happen without a catch. Though terms of the deal have not been released, but Ledecky and Malkin will hold a minority interest in the team for the next two years before finally gaining majority control.

In the meantime, the Twittersphere is reacting to the big news:

SI Apps
We've Got Apps Too
Get expert analysis, unrivaled access, and the award-winning storytelling only SI can provide — from Peter King, Tom Verducci, Lee Jenkins, Grant Wahl, Andy Staples and more — delivered straight to you, along with up-to-the-minute news and live scores.