[Rumour] Barroway set to buy the Islanders for $400 mil. update: suing Wang for backing out

[sureLoss]

http://www.sportsbusinessdaily.com/S...NHL-Shift.aspx

The prospective sale of the New York Islanders to Andrew Barroway is now up to Charles Wang, the team’s current owner.

A source close to Barroway said last night that Barroway recently lined up the necessary partners and financing to complete a deal.

“It was no secret that Andy needed partnership money,” said the source. “Now, he’s put it all together and he’s in position to make the deal Wang wants.”

As reported in Wednesday’s “NHL Wrap-Around” podcast, Wang and Barroway have had an unwritten, non-binding understanding that the sale price of the team would be approximately $400 million. That agreement enabled Barroway to seek out partners, explain how much money was required, and detail why he thought the Islanders (who are moving to Brooklyn’s Barclays Center in 2015) are a good investment.

[puckluck2]

Now I'm no pro team expert but how is it that the LA clippers are only worth $600 million if the Islanders are worth $400 million?

[Caged Great]

Originally Posted by puckluck2

Now I'm no pro team expert but how is it that the LA clippers are only worth $600 million if the Islanders are worth $400 million?

They are in New York?

If it was the preds or something, it'd probably be closer to 250

[Joborule]

Originally Posted by puckluck2

Now I'm no pro team expert but how is it that the LA clippers are only worth $600 million if the Islanders are worth $400 million?

LA NBA team > New York NHL. Plus Staples Centre > Arena that wasn't built for hockey.

EDIT: Nevermind, read your post wrong.

[puckluck2]

Originally Posted by Caged Great

They are in New York?

If it was the preds or something, it'd probably be closer to 250

I know that, but the Clippers are in LA. Both are home to great cities.

[EldrickOnIce]

Forbes values the Islanders at 195, the Clippers at 575 - but 500 might be fire sale value

[sureLoss]

Originally Posted by puckluck2

Now I'm no pro team expert but how is it that the LA clippers are only worth $600 million if the Islanders are worth $400 million?

Is $600 million coming from the Forbes valuation for the Clippers?

Because the Forbes has the Islanders as worth only $195 million.

[Resolute 14]

Originally Posted by puckluck2

Now I'm no pro team expert but how is it that the LA clippers are only worth $600 million if the Islanders are worth $400 million?

The Forbes numbers are based on year-old and incomplete data. The expectation is that if Sterling sold the Clippers now, he'd get north of a billion dollars.

[trackercowe]

Originally Posted by Resolute 14

The Forbes numbers are based on year-old and incomplete data. The expectation is that if Sterling sold the Clippers now, he'd get north of a billion dollars.

Yep, heard the same thing as well. Minimum of 900 million, but likely more than a billion for a franchise he paid next to nothing to. There's method to the madness when it comes to buying a Big Four franchise. Even if you lose money from year to year, 99% of the time you'll reap a huge windfall when reselling the team.

[Vulcan]

What's a NHL expansion franchise worth these days, $300M? Another $100M for an established team doesn't seem out of order.

[Table 5]

I hope they triple-checked his bank account.

[The Fonz]

This would be a great thing for the Islanders and their fans.

Get that franchise back to respectability.


FYI: I have no idea who this potential buyer is. I'm just of the opinion that Wang is and always has been, the worst owner in the league.

[puckluck2]

Originally Posted by Resolute 14

The Forbes numbers are based on year-old and incomplete data. The expectation is that if Sterling sold the Clippers now, he'd get north of a billion dollars.

Ok this makes sense as I was doing some research into Sterling and was kind of shocked the reported worth of his team was only $600 million.

[Cali Panthers Fan]

Both Florida and NYI ownership changing hands within a calendar year? Gotta be good news for the league. I would imagine they were sick of watching those 2 teams lose constantly. I wonder how long before Edmonton (maybe Buffalo) is the sole remaining laughing stock franchise in the NHL.

Edmonton is no good.

[Fire It Up]

Mark Cuban believes the Clippers will sell for a little north of $1 Billion. Might be wishful thinking and hope to drive up his own franchise value. Either way, maybe $400 million isn't so crazy then?

[Jacks]

Gotta think the first order of business for a new owner will be to walk Snow out of the building.

[ignite09]

Originally Posted by Jacks

Gotta think the first order of business for a new owner will be to walk Snow out of the building.

God, one can only hope. How this guy still has a job is beyond me.

[Racki]

Originally Posted by Jacks

Gotta think the first order of business for a new owner will be to walk Snow out of the building.

If there's an organization that needs an entire cleansing it's the Islanders. They were such a proud franchise when I was a kid. It's a Goddamn shame what's become of that franchise.

[Resolute 14]

Originally Posted by puckluck2

Ok this makes sense as I was doing some research into Sterling and was kind of shocked the reported worth of his team was only $600 million.

If I recall correctly, the Clippers have pretty much been the Oilers/Islanders of the NBA for much of the time he owned the team. It's only in the last few years they've found respectability, and the franchise value has exploded with it.

What is actually shocking to me, however, is that the Islanders are apparently worth $400 million.

[Sidney Crosby's Hat]

Originally Posted by Resolute 14

If I recall correctly, the Clippers have pretty much been the Oilers/Islanders of the NBA for much of the time he owned the team. It's only in the last few years they've found respectability, and the franchise value has exploded with it.

What is actually shocking to me, however, is that the Islanders are apparently worth $400 million.

In Brooklyn you've got to think they would be worth $400 million. So much potential and a much better location than Long Island in terms of the ability to grow the fan base.