New York Islanders' Owner Sells Minority Stake Before Move

TheStreetAugust 20, 2014

With their much anticipated move to Brooklyn's Barclays center from their Long Island home, the New York Islanders are up for change. And more change is coming as team owner Charles Wang sells a minority stake to former Washington Capitals co-owner Jon Ledecky and London-based investor Scott Malkin. Not only did he sell the stake, which sports valuation specialist Michael Rapkoch said could value the team at up to $530 million, but under terms of the agreement the new owners will take over in two years. Now, if only the Islanders could recapture what fans want to see most: that four-year stretch in the early 1980s when they owned the Stanley Cup.