Islanders ownership timeline

Former Islanders owner John Spano. Credit: Newsday file photo

By NEWSDAY.COMsports@newsday.comAugust 19, 2014

Islanders ownership since the NHL awarded Long Island the franchise in 1972:

1971: Roy Boe, who also owned the New York Nets of the ABA, becomes one of the original owners of the Islanders.

1978: Boe is forced to sell the team to limited partner John Pickett.

1992: Pickett sells a minority share to a group of local investors -- Stephen Walsh, Paul Greenwood, Robert D. Rosenthal and Ralph Palleschi -- who also gain managing control.

1996: John Spano reaches a deal to buy the team from Pickett in October but is forced to relinquish the team in June 1997 after being unable to pay. Spano is later charged with fraud and serves more than five years in jail.

1997: Pickett regains control of the team.

1997: Howard Milstein, a New York City real estate developer, and Steve Gluckstern, Phoenix Coyotes co-owner, buy the Islanders from Pickett in September.

2000: Charles Wang and his business partner Sanjay Kumar buy the team.

2004: Wang buys out Kumar's share.

2014: Wang sells a minority stake to Jonathan Ledecky and Scott Malkin, who are to gain majority control in two years.