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Islanders Owners Looking To Sell 15% Stake, But Having Little Luck Due To Arena Limbo

Islanders co-Owners Jon Ledecky and Scott Malkin have been "trying to sell a minority stake in the NHL club for months -- but have not had any luck," according to Josh Kosman of the N.Y. POST. Sources said that Ledecky and Malkin are "looking to sell" a 15% stake at a $500M valuation. Sources added that part of the "issue for suitors is that it is not clear where the Islanders will be playing" after the '18-19 season. Barclays Center is "not interested in keeping its lease with the Islanders after two more seasons because of the onerous terms of the deal." The owners have been "considering building an arena near Belmont Racetrack." However, sources said that the state has "not yet moved forward in asking for site proposals." A source said that what the Islanders owners are "telling prospective buyers is that they are looking to sell a minority piece of the team so that they can diversify" (N.Y. POST, 6/20).

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