Report: Charles Wang In Talks To Sell Islanders To Andrew Barroway
Islanders Owner Charles Wang reportedly is in talks to sell the team to Philadelphia attorney Andrew Barroway for $225M, plus another $75M "if the Islanders hit certain revenue targets." Wang "has been open to a sale for several years," but there has been "limited interest." This time "could be different because of a revenue guarantee from Barclays Center," where the team will begin playing in '15. The arena's owners guaranteed the club $50M in annual revenue for regular-season games, while the venue "would keep anything it collects in sponsorship, suite and ticket sales over that amount" (NYPOST.com, 3/31).