BREAKING NEWS: Charles Wang has agreed to sell the #Isles to John Ledecky, former co-owner of the Capitals, and investor Scott Malkin.— Arthur Staple (@StapeNewsday) August 19, 2014
The tweet heard around the Island...
Just minutes ago, Islanders beat writer, and seemingly the only word I fully trust when it comes to Islanders news, Arthur Staple broke the news that Owner Charles Wang has agreed to sell the team to Jonathan Ledecky and Scott Malkin.
Though details of the deal have not been revealed, it is known that both Ledecky and Malkin will hold minority interest for the next 2 years (The Coliseum's final season, and the inaugural season at the Barclay's Center in Brooklyn. (Staple)
The deal is still pending approval from the NHL's Board of Governors, but I'm putting a lot of stock in this being the real deal, no pun intended.
Ledecky garnered his reputation by performing a number of "roll-ups", or buying several small businesses and merging them into one, which led to him becoming co-owner of Lincoln Holdings, a group who formerly owned the Washington Capitals, as well as a stake in the Washington Wizards, and MCI Center (Now known as the Verizon Center) in DC. .
Malkin founded and is chairman of Value Rentals PLC as well as serving as chairman for ULI Europe at Urban Land Institute since July 6, 2011, he holds a J.D. and an M.B.A. from Harvard.
IslesBlog will keep you updated when more details arise.
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