Owner Charles Wang has agreed to sell the New York Islanders to a former co-owner of the Washington Capitals and a London investor.
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:
I tells ya. Lotta things coming up Isles lately. Brooklyn years could kick off with a hot start.— Justin Bourne (@jtbourne) August 19, 2014
Crazy day: Now comes announcement that Charles Wang will be out in 2 years as majority owner of NY Islanders.— steve simmons (@simmonssteve) August 19, 2014
Wang Out After Years Of Boners— Jesse Spector (@jessespector) August 19, 2014