Islanders' Jon Ledecky (l) said that the late Wang's (c) legacy will endure with move to UBS ArenaGetty Images
The Islanders' current majority ownership said that it "had purchased the remaining 15% of the organization from the estate of the previous owner," thereby officially ending the late Charles Wang era, according to Andrew Gross of NEWSDAY. Islanders co-Owner Jon Ledecky said that Wang's legacy "will endure with the Islanders' new UBS Arena targeted to open in November." Ledecky said, "Charles Wang took us to Belmont Park and explained how he could imagine that this location could some day be in the permanent home of the New York Islanders." Gross noted the sale price "was not immediately available." New York Hockey Holdings, consisting of Islanders Owners Scott Malkin, Ledecky and fellow co-Owner Dewey Shay, assumed 85% ownership of the club on June 22, 2016, with Wang retaining a 15% stake. Wang passed away on Oct. 21, 2019. He bought the team with Sanjay Kumar in '00 for $171.2M. Wang "took over full ownership in 2004 when Kumar faced legal issues unrelated to the Islanders and sold his stake in the team to Wang" (NEWSDAY, 12/31).
