Barroway Suing Wang For Reneging On Deal To Sell Islanders
Philadelphia-based hedge fund manager Andrew Barroway and his company, NY ICE, are suing Islanders Owner Charles Wang "for reneging on the sale of his NHL franchise." Wang is also being "accused of allowing 'greed' motivated by an 'unrelated,' more lucrative bid" for the Clippers to "compromise the deal." NY ICE had agreed to buy the team for $420M. The suit states that Wang in a July 16 meeting "blindsided Barroway by demanding" $548M. The Islanders in a statement said, "There is no merit to the reports" (N.Y. DAILY NEWS, 8/12).