Charles Wang Statement Regarding Possible Sale

New York Islander Fan Central | 3/28/2014 06:49:00 PM |
Charles Wang had the following on the Islanders website 3/28/14:

In recent months, there have been numerous expressions of interest in the purchase of the New York Islanders. As I have consistently stated, I have been and remain willing to listen. However, potential buyers expressions of interest in the team or even my listening to them does not mean that any deal will be reached.

NYIFC Comments: 
The bottom line here for everyone should only be one thing.

Does the binding, iron-clad lease signed with Barclay's in October 2012 still stand or can Wang sell to someone out of state and relocate the team?

The first hint of Charles Wang setting a three hundred million dollar purchase for the team surfaced on 10/1/12, a full twenty days before the Barclay's press conference.  

That's also far from the first time Charles Wang's had conversations about selling over the years. 

Sure Wang could have sold out of market before October 2012.
 
I noticed in January the lack of any announcement for a 2014 preseason game at Barclay's.

The shift in power back to the Long Island campaign almost seemed defiant on the Islanders website.  

The Islanders website on 3/6/14 did update to include plans for 2014-15 which footnoted purchasing tickets in Brooklyn.

Nothing from the Islanders or Barclay's side starting to heavily promote/market this teams move in eighteen months. 

Two years ago I wrote the time is coming that Charles Wang no longer owns this franchise, he's approaching seventy in August, and has received nothing but financial loses with absurd ridicule for his efforts. 

Painful as it is to write this again, Charles Wang now has to protect himself. If he can get out of his agreement, he is obligated the get the most money for himself/family.

If that is not in the New York market so be it. 

I do not see see anyone willing to meet that price locally now or in the future, whether it be the Nets owner, or someone else willing to become a tenant with a fan base that does not support the current team since 1989 win or lose from October to March, much less one that's moving.

New York Islander owners lose money, no one is going to line up for the privilege of losing tens of millions of dollars a year from a fan base only interested in attending opening night or playoff games since 1989 that demand max payrolls at 1975 ticket prices. 

Dynasty owner, John Pickett's son has the following about his father in 1998 before the team was sold to Howard Milstein.

 " Fans of his crumbling franchise assumed that meant he didn't care. "But it really pained him to see the Islanders were not being as successful as they originally were under him," Pickett's 29-year-old son Brett said. "But that was not enough to make him relent to fiscal insanity."

I think you can put away those July free agent list now.





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