Report: Charles Wang agrees to sell Islanders to former Capitals co-owner, investor
After a failed sale that resulted in a potential lawsuit, it appears as though New York Islanders owner Charles Wang has found a buyer, pending the approval of the NHL's Board of Governors.
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
Ledecky and Malkin will hold a minority interest in #Isles for next two years and then assume majority control, per agreement.
— Arthur Staple (@StapeNewsday) August 19, 2014
Ledecky held a 24 percent stake in the Washington Capitals from 1999-2001, as per the Washington Times; Malkin is "chairman and CEO of London-based Value Retail, the $1.6 billion (sales) syndicator of high-end European retail outlets," per Forbes.
Terms of the sale have not yet been disclosed.