[Rumour] Charles Wang looking to sell the Islanders

[sureLoss]

http://m.nypost.com/p/news/business/...jlNKje6m8xHezN

Looking for 300 million. There are rumors that he doesn't have the money to pay back loans on some of his business ventures

[nik-]

Getting the move to Brooklyn finished probably added 100 million in value to the team. Good time to sell.

[Gundo]

And 2 million per year of that still goes to Yashin for 2 more years.

[Cheese]

Its about time he sold that team. Wang has been a disaster for that franchise.

[Badgers Nose]

might be a new hope for the islanders

[Calgary4LIfe]

Hope someone buys that organization quick. Fans there have been deserving of a team that is at least willing to try and be competitive, instead of finding ways to cut costs.

[Rocky Raccoon]

My understanding is that the team has been up for sale for quite some time now; I don't think this is new news. I don't have a link right now but I thought there were 2 groups looking to purchase but neither was willing to pay the $300M to purchase; albeit this was prior to the Brooklyn move being finalized.

I hope the team is sold soon; Boston and NYI are the only organizations apart from the Flames I have any care for and I would like to see them return to respectability.

[Alberta_Beef]

I imagine with the move to Brooklyn in place the team should sell pretty easily.

[Bertuzzied]

He should start up a new franchise in Atlanta

[Vinny01]

That Russian that owns the Nets should buy them

[killer_carlson]

The one thing about an owner like Wang is that he was crazy enough to try anything. The long term contracts were a brilliant loophole, and but for an all star game injury, an all star calibre goalie at a$4 mill cap hit looks pretty good.

On the other hand, he was also crazy to do other things. Ihalf expected him to hire Ecklund to be his head scout.

[Huntingwhale]

This is good news. Hopefully Islanders fans can get an owner who actually tries to compete and bring the franchise back to respectability.

[The Original FFIV]

Have to feel for Garth Snow. I mean, what's he going to do for work if Wang sells?

[Buff]

Originally Posted by The Original FFIV

Have to feel for Garth Snow. I mean, what's he going to do for work if Wang sells?

He can work at a hockey store as a goalie pad specialist.

[Dion]

Originally Posted by Bertuzzied

He should start up a new franchise in Atlanta

The Oilers need help.

[Envitro]

Jay-Z

[Joborule]

With the arena the Islanders are moving into though, it's not ideal for hockey at all, and has lower capacity than a team the Islanders should be able to yield.

The new owner hopefully would have a plan to build a proper, new arena for the Islanders. That organization has been gong show for so long. As bad as the Flames fans have had it, Islander fans have had it the worse.

[jayswin]

Originally Posted by Joborule

With the arena the Islanders are moving into though, it's not ideal for hockey at all, and has lower capacity than a team the Islanders should be able to yield.

The new owner hopefully would have a plan to build a proper, new arena for the Islanders. That organization has been gong show for so long. As bad as the Flames fans have had it, Islander fans have had it the worse.

Barcley's centre wasn't designed for hockey, but they will make some serious cash off the stunning, expensive suites at that arena. The capacity for hockey is 14500, I believe, so yes, they'll lose a couple thousand nosebleed seats that most arenas have. But this arena is a money maker for the high-end seats and luxury boxes, which is the direction most sports teams are going in anyways.

Even a team like the Flames is reducing capacity in their new arena, focusing instead on lower bowl/suite revenue. I realize going from 19289 to 18000 (or whatever they decide on) isn't as drastic as 14500, but like the Jets (15004), if the Islanders can sell out all the seats and luxury boxes, they'll be laughing.

[Joborule]

Originally Posted by flameswin

Barcley's centre wasn't designed for hockey, but they will make some serious cash off the stunning, expensive suites at that arena. The capacity for hockey is 14500, I believe, so yes, they'll lose a couple thousand nosebleed seats that most arenas have. But this arena is a money maker for the high-end seats and luxury boxes, which is the direction most sports teams are going in anyways.

Even a team like the Flames is reducing capacity in their new arena, focusing instead on lower bowl/suite revenue. I realize going from 19289 to 18000 (or whatever they decide on) isn't as drastic as 14500, but like the Jets (15004), if the Islanders can sell out all the seats and luxury boxes, they'll be laughing.

But the footprint of the ice will make viewing at the game look awkward since one side is gonna have such little seating, and make it look like ice doesn't belong in their at all. I feel it will give an 'amateur feel' and may actually hurt revenue, due to those with money not really wanting to spend money to see the game there.

[jayswin]

The price of a Vault at Barclays Center is dazzling, costing about a half-million dollars per year (though the Wall Street Journal priced it higher, at $550,000) — with a minimum three-year commitment.

Luxury Suites and Private Bars & LoungesIn addition, the stadium offers:

• 101 luxury suites
• four bars/lounges including the High Point Solutions Lounge on the Suite Level
• four clubs : the Honda Club, TicketsNow Club, South Club and the Calvin Klein Courtside Club
• one of Jay-Z's own chain, the 40/40 Club and Restaurant.

There's potential to not only completely nullify the lack of lower budget, nosbleed seats, but to actually be way more profitable than an older arena with 19000 seats but a lack of luxury boxes.

If the Islanders can start icing a competitve team with a new owner, I think this move to Brooklyn will be hugely successful.