Report: Islanders' sale price is $485 million
New York Islanders owner Charles Wang announces the team's move to the Barclays Center in 2015 at a press conference. (Oct. 24, 2012) Credit: Getty Images
A Forbes website report published Friday pegged the Islanders' purchase price at $485 million.
A team spokesman would not comment on the story detailing the transaction price of the August sale of the team by Charles Wang to Jonathan Ledecky and Scott Malkin, who will be introduced as minority owners at a news conference next week.
Ledecky, a one-time co-owner of the Capitals, and Malkin, a London-based investor, bought the team two months ago after Wang engaged in protracted negotiations with Andrew Barroway, a Philadelphia-based wealth manager.
In a lawsuit filed two weeks before the completed sale, Barroway alleged that Wang backed out of a handshake agreement to sell the Islanders to a group of investors led by Barroway for $420 million. Barroway's suit contended that Wang sought $548 million for the team in June, causing negotiations to end.
Barroway completed a deal to buy 51 percent of the Arizona Coyotes last week and dropped his suit against Wang.
Ledecky and Malkin will own a minority share of the Islanders for this season and next, the team's first at Barclays Center in Brooklyn. Wang then will become the minority shareholder starting in the 2016-17 season.
Wang bought the Islanders in 2000 along with fellow Computer Associates executive Sanjay Kumar for $187.5 million and Wang assumed sole ownership in 2004.
The Islanders are off to a 4-0 start, their best since 2001.
Notes & quotes: Mikhail Grabovski, who left Thursday night's 4-3 shootout win over the Sharks in the first period after taking a big hit from John Scott, is out indefinitely with an upper-body injury, though it is not believed to be a concussion. Colin McDonald likely will make his season debut against the Penguins on Saturday night in Grabovski's place.
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