2/17/09

The Tip off on Charles Wang's Ownership Status

New York Islander Fan Central | 2/17/2009 11:51:00 AM
A little background.....

I read the two reports of Charles Wang looking to sell the Dragons but nothing at least for a year before a sale happened. I actually found myself watching and enjoying the Dragons pull a huge road playoff upset even if I do not follow them often or the AFL because it was a very good game.

I watched the second round game in Philadelphia and there was Charles Wang in the front row behind the bench with Chris Dey right at his side, both cheering the club and obviously into the game.

A fellow looking very much like Garth Snow was in the second row. That was a Saturday, the next Wednesday the sale of the team was announced.

The AFL obviously in New York flies well below the radar.

That does not have a lot to do with the Islanders but what does is almost every year the Islanders announce a plan for next year's tickets or what we saw last year was the announcement of a two-year plan.

This has been my private barometer as to how long Mr Wang's patience is in terms of ownership. Once he made that agreement he locked in ticket holders and that would be money he would have to return if by some chance all leases were voided/bought out/whatever.

If we see the Islanders offer another two year plan that tells us Mr Wang intends to continue as owner beyond next season and that the Lighthouse will get approved.

If not, I suspect Mr Wang's countdown clock as owner goes only as far as the conclusion of the 2009-10 season or his patience is running/ran out. Unlike the AFL we will know about potential buyers because league sources always pop up.

For me what's offered by the club in March will be the tip-off as to where Mr Wang is in terms of what he wants to do as owner.

Plesse keep in mind Mr Wang can sell the club and still build the Lighthouse at some point in the future and will likely be the Islanders landlord someday if he does sell to another party. I have no doubt he's into the hockey and has proven it countless times the last decade. By the time 2025 comes the lease is up again.

If Mr Wang or his family own/run the club, who knows where that goes.

Anyone who thinks Charles Wang bought the New York Islanders for the land and spent hundreds of millions on players would be kidding themselves, other developers had the same right to bid on the property in 2005.




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