New York Islanders Sale to Jon Ledecky and Scott Malkin Reportedly Approved

September 30th, 2014 by Tyler Conway Leave a reply »

The National Hockey League's board of governors approved the sale of the New York Islanders to Jon Ledecky and Scott Malkin at their meeting Tuesday, ending one of the more controversial franchise transactions in recent memory.    

Under terms of the agreement, which was announced last month, current owner Charles Wang will continue as majority owner until 2016 before transitioning his shares to a minority stake. Chris Johnston of Sportsnet first reported the approval, which was deemed a "surprise":



The two-year wait was put in place in part to help the franchise's move to Brooklyn's Barclays Center, which will take place for the 2015-16 season. Wang will then be the majority owner for the club's lame-duck campaign at Nassau Coliseum and its inaugural campaign in Brooklyn.   

"We are pleased to have the opportunity to become partners in the New York Islanders with Charles, and to pursue our shared dream of winning a fifth Stanley Cup for the greatest fans in the NHL," Ledecky, a former co-owner of the Washington Capitals, said in a statement. 
Read Full Article at Bleacher Report - NHL
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