The NHL BOG yesterday approved the ownership transfers
of the Islanders to Computer Associates Int'l execs Charles
Wang and Sanjay Kumar, the Avalanche to Stan Kroenke and the
Devils to YankeeNets (NHL).
ISLANDERS UPDATE: In N.Y., Barry Baum notes that Wang
and Kumar, who bought the Islanders for a reported $187.5M,
become the team's fourth set of owners in five years. Kumar
calls a potential new arena for the team a "three-to-four-
year project." Kumar also "suggested" that he and Wang
"might have interest in buying" Nassau Coliseum from the
"financially-strapped" county. Kumar: "Nothing is
impossible. Everything is possible" (N.Y. POST, 6/21).
Kumar said restructuring the team's lease with SMG at Nassau
Coliseum "is not No. 1 on my list" (N.Y. TIMES, 6/21).
Kumar, on the Islanders' $16M payroll: "The payroll clearly
is going to go up" (NEWSDAY, 6/21). Kumar said that while
he "does not plan to 'run amok' financially, he is willing
to spend money" (Melissa Geschwind, USA TODAY, 6/21).
STAN THE MAN? In Denver, Jim Benton writes that though
Kroenke was approved yesterday as the Avalanche's new owner,
he "awaits a final endorsement from the city of Denver."
The "biggest hurdle ... appears to be city approval," as
Denver "wants assurances" that Kroenke will not relocate the
team during the next 25 years (ROCKY MOUNTAIN NEWS, 6/21).
