Showing posts with label Charles Wang. Show all posts
Showing posts with label Charles Wang. Show all posts

Charles Wang RIP

New York Islander Fan Central | 10/21/2018 10:30:00 AM |

The statements praising Wang are pouring in from former players, AHL, Rangers/Dolan family.
Several news organizations are reporting New York Islanders minority owner, Charles B Wang, has passed away at age 74.

 "He treasured his association with the team and its devoted fans," Wang's family said in a statement.

Libn.com: Scott Rechler, Kevin Law, others also had high praise for Wang.

NYIFC Comments:
It's a very sad day to read of this man's passing.

I have never been of the school, Charles Wang, kept the team from relocation. The lease in Nassau & with Smg/Msg made that impossible, but his efforts to spend above and beyond, for doing everything humanely possible to keep a building going, where he was only a tenant, renovating many times, him giving us an AHL franchise, saving that from Roy Boe, and investing far more into this team than any owner in his arena circumstances was unreal.

It would never be enough for the people who want 1980 prices & a max payroll. He did all he could to honor the alumni to the point he got accused of it to sell tickets, he did found the teams hall of fame, and the LH tournament continued into last season. 

Wang got my support and defense here because he did not get a taxpayer funded arena, he did not get the LH or the referendum because of politics, but he spent far more than he had to before 2006, and did everything possible to sign players without the ability to front-load contracts to his final days.

He was loyal to this franchise, he was right to fire Neil Smith because the 2006-07 team made the playoffs when the Flyers cleaned house in October, and they fell apart. Wang never let off ice things become a distraction into a season. Smith did not sign his contract, business is business.

And all I kept reading was Wang offered the most money, in that building, with that brutal fan support win or lose, and a ton of pathetic media did not care or understand, he outlasted many of those outlets who spent far less.

Not sure how things are handled given how Bill Torrey has been treated, but Wang was the second best owner of this franchise, and for all the ups/downs, he loved owing this team, he always sat at draft table proudly.

He'll be missed by me personally. No misconceptions of his past at CA or the endless stories as a ruthless shark in business (like everyone) but as a hockey owner he did everything possible for our fans short of bankruptcy.

This was Charles Wang on 6/29/16, his final days at majority owner. RIP
                          

Ledecky Management Statement

New York Islander Fan Central | 7/01/2016 10:26:00 AM | | |
NYIFC Comment: 
What can be written on Charles Wang again here? For the more astute folks he leaves with a good legacy.

He owns the Sound Tigers in full, operates WBA through 2021, Iceworks, and has an agreement with Nassau County for the Islanders to practice at his fully owned Northwell Health through 2026, and conduct team events beginning 9/1/16 if he wants to retain his LH escrow money.


Ratner's agreement calls for an AHL team to play in the Nassau Coliseum, if not Wang's Sound Tigers, that's a problem for the new majority owners if the Rangers AHL team plays in a renovated Coliseum.

As for Jon Ledecky, he was not introduced as the majority owner, Scott Malkin's finances will drive this franchise with some realistic expectations, and the usual absurd things some of our fans want. 

My guess is like all owners here the fan support determines the direction. Since 1989, a 41 game commitment from our fans simply is beyond what they will do to support their team.

Their opening day likely brings the likely loss of three well-liked core players the fans identify with, one who is a player John Tavares wanted resigned, who's points at wing lead all UFA.

There are good reasons to retain these players, and good reasons to move on. 

We now know Mr Ledecky endorses this coach & general manager. 

It's Show Time For Ledecky/Malkin

New York Islander Fan Central | 6/14/2016 12:38:00 AM | | |
 
NYIFC Comments:
Simply put it's been a long time since October 2014, if Malkin/Ledecky paid the money, they are majority owners, and it's their call, along with Mikhail Prokhorov who is their landlord at Barclay's/Coliseum if a team affiliated with the Islanders play there. 

For today it seems like a good time to go back to what was said as to what kind of owners the fans are getting. If the communication has been as poor as Barclay's-Islanders where obviously for three years the homework was not done, it could be a very big problem. From an outsiders view the three owners have been together often for games/events.

Our fans want passionate owners, crashing into things, not calm consideration, and the greatest payroll, with the lowest ticket prices which is not realistic. Two years should have taught these men that much. Some of these "kids" are now weeks from leaving. 

Jon Ledecky/Scott Malkin are not listed on the Sound Tigers directory, only the Islanders.

Meanwhile the interior roof of the Coliseum is half black now, with the full exterior to be painted black this month.  A decision on the Sound Tigers future will have to happen. Wang has his agreement with Nassau to use Northwell for all team practices beginning on 9/1/16 for his Lighthouse escrow money. Prospect camp will begin place under Charles Wang's tenure in his facility.

The learning process is over with the listening tour, our new majority owners will be making big decisions, the fan support must be there for these owners to spend.

We're about to see what has been learned since that press conference in 2014. 

New York Ownership Change Leaves Mostly Unanwered Questions

New York Islander Fan Central | 5/12/2016 11:00:00 AM | | | |
Updated: Garth Snow happened to speak after I began my entry, was gracious with the fans, and sounded like a man who will keep his job.

“New ownership won’t have any impact on what we’re doing this offseason.” -Garth Snow 5/12/16

So far the three owners have not spoken to this subject.
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Let's be clear. I'm damaged goods on this subject from the past.

Steven Gluckestern was a good #2 owner in Phoenix, highly regarded, paid bills/spent on players.

Gluckstern came here with NY ties, met fans often, then Howard ("Fill The Building First") Milstein met with Nassau and soon we had an ownership run by Ed Milstein on life-support trying to ice a five million dollar payroll, and leverage the television contract to trade Palffy to the Rangers. (after they tried to leave)

Milstein was many things, but not a fool, and he was correct. Some of his investors in the Islanders to this day are high profile people like Steven Ross, who own the Miami Dolphins.

Milstein is still a billionaire, and despite throwing 125 million out the window to purchase the Redskins, was not wrong about fan support or Nassau as Wang found out, but that was then, this is now.
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Jon Ledecky was a good #2 in Washington that became part of an ownership which moved down town from Landover during a season, went to the finals, added Jagr, and had horrible attendance for years.

Ledecky's been popular with fans, and seen at many games the past two years. All three were at Neulion's Christmas party last Dec (held at Wang's Northwell Health) and reportedly at game 2 in Tampa. (at very least)

I cannot tell you a thing about Scott Malkin beyond he seems to be the billion dollar owner of the two, with businesses in London, and his Harvard ties to Ledecky. 
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Garth Snow can say what he likes about the coaches, staff, but in the end it comes down to what Jonathan Ledecky/Scott Malkin say regarding keeping him as Alt Gov, President, GM which could have been decided day one in 2014 win or lose.

Charles Wang stayed loyal to Mike Milbury, he paid for it big long-term regardless of the money he spent or the three straight playoffs. We have fans who want a total house-cleaning regardless if this team won a cup or finished 30th, who do not consider this management team or coaching staff credible even though the players working here clearly disagree.

Despite media rhetoric, we have no idea which owners have what percentage of the team, or what date the minority owners become majority who have a final say in hockey matters. 
 
Teams change (or go without) general managers during drafts and 7/1 in the past, the fact the UFA players have had no conversations regarding new contracts is not insignificant but Snow has signed prospects early.
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What Do We Know?
Everyone (and their lawyers) looked at all leases.

We know former Caps gm, George McPhee, was with Leonsis/Ledecky's + Garth Snow's agent, and was a consultant here this season. 

Ledecky's comment about KC Royals not spending for elite players in 2014 and proved they could win. (not until 2015) Wang's sole ownership took back business operations from Barclay's eight months after his agreement with Ratner at a point before Ledecky-Malkin bought a share of the team.

We also clearly found out Mr Yormark (with a brother who ran the Florida Panthers for about a decade) did not pay much attention to hockey traditions at Nassau Coliseum in 2013, 2014 or 2015 or ask many questions of the fans or the teams owner(s) which meant communication at both ends was not very good to be kind.

Fred Mangione, as Chief CEO of Barclay's made clear he should have booked more Sat home games for Islanders speaks for itself which may have lost its former Sat night customers permanently.

And we know Prokhorov-Ratner this week signed a 49 year lease to renovate/operate the Paramount Theater near Barclay's Center starting in 2017.
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We have no idea what Barclay's owner, Mikhail Prokhorov thinks of the Islanders, any owner, or what they think of him, Mr Yormark, or the lease Charles Wang said was iron-clad for 25 years in 2012. 

We have no idea what Ledecky/Malkin think of having the team at Wang's Northwell Health practice facility or his agreement at WBA in Bridgeport through 2021.

A decision on Bridgeport's future needs to be announced in accordance with Ratner. (now 85 percent Prokhorov's lease to supply an AHL team for a renovated Nassau Coliseum)
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Sorry folks, just giving you my take of the landscape at this early time.

Our incoming new owners have the Islanders website to make clear what they intend to do without a newspaper/sources or gossip. We're going to know eventually, so the sooner, the better.

Fans sitting around on 7/1 expecting twenty dollar tickets, a max payroll filled with top players signed are a tough act for any owner.

Agents, players, fans want a stable operation, and answers.
It's a time to be proactive.

7/1 or later is not the right time for changes if they have already been decided.

We know the players like this management, and so does Garth Snow, but it's not his say until the three owners publicly decide it's still his job.

For now Snow will do is job as always, we'll see if he can negotiate contracts new owners have to pay. 

The exit meetings are over with the players, it's time for ownership to pick a direction, and announce it to the public or it's Snow's job as always which seems to answer all questions. 

New York To Practice At Northwell Health Ice Center Through 2026

New York Islander Fan Central | 3/07/2016 04:12:00 PM | | |
Long story short we found out 3/7/16 what became of what was Charles Wang's former agreement at Cantiague Park for the 5.1 million dollars he was owed from the Lighthouse project back in escrow from 6/5/2015: (See past entry)

Islanders agreed to move all practices to Northwell Health Ice (aka Twin Rinks) beginning 9/1/16, they had their third practice there this season on 3/7/16.

Cantiague Park get's one million for upgrades to it's rink, no mention of the Islanders involvement.
No mention of the other 600k. (5.1m vs 3.5+1m last summer)
No mention of Iceworks which Wang still owns. 

County legislature of course cleared room, and went into special session for a long time before Islanders lawyer took a few questions, most from one representative about agreement being binding and construction being within footprint of current building. NIMBY/Parkland.

No mention was made of Charles Wang, Jon Ledecky or Scott Malkin as this passes to new majority owners if they do pay money for team/take majority control.

This has nothing to do with the Nassau Coliseum nor was that brought up.

If the Islanders violate terms or in fact move from NY area before 2026, Nassau can only collect from the 5.1 million LH escrow money. Wang would still own Northwell Health rink regardless because he bought it last summer. 

Bottom line:




Michael Picker New President In Bridgeport

New York Islander Fan Central | 10/27/2015 01:55:00 PM | |

 “Michael has done an incredible job running the front office for the Islanders,” Islanders Owner Charles Wang said.  “I have worked closely with Michael for almost 33 years and know he will do a great job with the Bridgeport operation.  Michael was involved with the purchase of the Sound Tigers and, through his work with the Islanders, is quite familiar with the operation and the employees in Bridgeport.  I look forward to a vibrant and active Arena.” 

NYIFC Comments:
This was reported back when Howard Saffan left.

Mr Picker will also run arena for Mr Wang under lease until 2021. 

Wang Wins Bid To Own/Operate Twin Rinks

New York Islander Fan Central | 8/31/2015 12:30:00 PM | |
Long Island Business News: Reports Charles Wang has won the bidding for bankrupt Twin Rinks in Eisenhower Park for eight million dollars.  

NYIFC Comments: 
Eight million for a rink that ran over-budget to fifty million dollars that's a year old?

Money talks, and no the bankruptcy sale process is a simple bid after qualified parties are selected who can operate a facility, this was not Nassau County's decision to make.

Wang made a nice statement hosting prospect camp there for a week.

Wang also beat out Ed Blumenfeld (lawsuit with Ratner over Coliseum) who had Bob Nystrom/Gerry Hart's support/SoNo in Norwalk Ct.

Hart backed off his bid in 2001 for Iceworks which Wang won for a 1.4 million bid, and endorsed Wang's efforts at the time.

Do Agreements Matter? 
I suggest folks again read the Cantiague Park Agreement reported on the Islanders website on 6/5/15 

The agreement to renovate Cantiague, and construct offices, was a settlement for Wang to get back almost five million dollars in Lighthouse project money in escrow, my impression is Wang is obligated per that ten year lease agreement to move the Islander practices there beginning 12/31/15 with team offices to be completed by February regardless of Twin Rinks or Iceworks.

Or not.

All we have is what was reported in terms of the agreement with Nassau regarding Cantiague. Why is Mangano going to let him out of that agreement?

What happens could come down to how embarrassed Mangano/County are over the Twin Rinks fiasco where he gave his state of the County speech. 

Ok. Twin Rinks, Cantiague, Ice Works.

Guess he did this for the real estate too?

Let's see a re-branding from Twin Rinks to Al Arbour Rinks at Eisenhower Park. No disrespect to the Ferraro brothers.

7/15 Qualifying Offers Deadline/Notables

New York Islander Fan Central | 7/14/2015 10:29:00 AM | | | | | | | | | |
Updated: That's close to a record for writing something here and management responding.
The qualifying offers deadline is 7/15 for those players the Islanders tendered an offer on 6/29 which retains their NHL rights (Johan Sundstrom signing in Europe) regardless of whether it's accepted by the player or not.

Long story short if Brock Nelson, Kevin Poulin, Kevin Czuczman, Mike Halmo accept the offer they have a signed contract for 2015-16.

If not, it becomes a negotiation, the players are only free to sign in Europe/KHL or stay home.

For the Bridgeport players 7/14 is more like 8/14 in the European leagues because they start sooner, all of them could have signed with another team since the end of last season.

My guess is all of them accept their qualifying offer by 7/15 with the exception of Brock Nelson who could be looking for a bigger raise. Poulin received a raise from the standard AHL contract when he was sent back to Bridgeport last summer.  
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Not much to write about Cantiague Park vs Iceworks vs Twin Rinks beyond Charles Wang rightly wanted his Lighthouse money in some manner, only his minority owners know where they stand with such an agreement.

Interesting the club had the full camp at Twin Rinks but even in a bankruptcy sale that is a far more expensive facility costing fifty million dollars or more than half of what Bruce Ratner will be spending to renovate the Nassau Coliseum.

Ratner can walk from this agreement any time he wants before a ground breaking, but once he begins construction, he is obligated. His agreement says he must secure an AHL team for that facility as an anchor tenant before construction begins, and his spokesman said they would.

We'll see how that plays out, but with facility closed until Dec 2016, it's clear no AHL team will be playing there for 2015-16, 2016-17 which means the county may give him a grace period to see how things play out in Bridgeport or to find another team.

Charles Wang did some talking about Andong Song, and how Project Hope will continue to be held on Long Island even without the Coliseum,  he had no comment or was not asked about anything else.
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Matt Carkner/Bridgeport assistant Matt Bertani  were at Iceworks on 7/11 for a kids camp, it would not shock me to see Carkner join Bridgeport in some capacity.