NY Islanders Sale Talk ONLY Part IV **Post 400, Isles SOLD**

[The Underboss]

Here's the deal everyone: This thread can only contain legit media driven sales talk (it must be linked) or vetted insider info talk. That's it. If you want to be vetted you need to PM me. You and your source stay confidential. The sites done this before. You can speculate and kick around ideas, but I heard from my friend of an uncles, brothers sisters stuff will be deleted. As well, do not bring over stuff from other message boards, it is a violation of copyright restrictions and those posts as well will be deleted and/or infracted. We're really trying to give you guys and gals a lot of latitude to discuss a full range of issues in regards to the sale of the team, but it must be done within some confines. Also, EVERYONE is to be treated with civility and respect even if something they post is wrong or doesn't agree with you. Now, let's hope Wang sells. I believe he will, question is when.






Previous thread: http://hfboards.mandatory.com/showthread.php?t=1690635



{Lawsuit Docs in Link Below}

http://www.newsday.com/news/breaking/charles-wang-ice-documents-on-nassau-coliseum-deal-1.9031471

Click to read more...

 

[scott99]

Ok, the truth comes out about the breakup between Wang and Barroway. Wang bumped the price up 31% AFTER hearing about the Clippers sale. This was AFTER the agreed upon price was $420 million, Wang told Barroway the price is now $548 million.

http://www.nydailynews.com/sports/h...wang-hit-10-million-lawsuit-article-1.1899742

 

[Bunk Moreland]

Wow this is just crazy..

New York Islanders owner Charles Wang was clocked with a $10 million lawsuit Monday by suitor Andrew Barroway for backing out of their deal to make a trade for $420 million.

In papers filed in Manhattan Supreme Court, Barroway’s corporation, NY ICE claims the parties “shook their hands on an agreement” and NY Ice started to line up NHL approval and financing.

However, Wang “without notice, abruptly refused to proceed to close the transaction and honor the terms of their 70-page purchase agreement but instead “improperly sought to renegotiate the already agreed upon price” in March.

In midsummer, according to court papers, Wang demanded $548 million for the team. When Barroway refused, Wang notified him on Aug. 1 that he had sold the team to other bidders.

Court papers blame the aborted deal on Wang’s “greed” which they said was inspired by the sputtering bid by Steve Ballmer to buy the Los Angeles Clippers basketball team for $2 billion.

“Wang was having seller’s remorse,” the court papers say, “because he believed he had agreed to sell the Islanders for a price too low after hearing the unrelated news that a $2 billion bid was place to purchase” the Clippers.

http://www.nydailynews.com/sports/h..._source=twitter.com&utm_campaign=NYDNSportsTw

 

[NewYorkIsles]

Read the bottom of the article http://www.nydailynews.com/sports/hockey/islanders-owner-charles-wang-hit-10-million-lawsuit-article-1.1899742

On Aug. 1, Wang informed Barroway that he decided to sell the Islanders to a different group, the papers say.

There was no immediate comment from the Islanders.

Discuss.

 

[PK Cronin]

This guy is an ******* and for anyone doubting there was ever a deal in place, what do you have to say now?

 

[Bunk Moreland]

Just crazy stuff there but after looking over the article again this stands out:

In midsummer, according to court papers, Wang demanded $548 million for the team. When Barroway refused, Wang notified him on Aug. 1 that he had sold the team to other bidders.

Now obviously Charles could just be lying to Barroway here but I just hope to god he's really sold.

Such a circus.

 

[TROLLCHUK]

It's unbelievable the amount of destruction Sterling and his "girlfriend" left in their wake. I hope the Clippers remain in mediocrity for another century.

 

[MJF]

It just goes to show you the measure of Charles Wang, the man.

 

[dcv2002]

So... Have the Islanders been sold for 10 days, or wut?

 

[kasper11]

Interesting...one would think there would be some kind of writing if they were far enough along that a breakup fee was agreed upon. Even if the full agreement isn't done, there should be a memorandum of understanding or something laying out the basic terms.

It seems weird to not have any written protection with such a big deal.

 

[SI90]

Read the bottom of the article http://www.nydailynews.com/sports/hockey/islanders-owner-charles-wang-hit-10-million-lawsuit-article-1.1899742



Discuss.

This is what caught my eye as well

So basically we have new owners but they will be in court battles for years while Wang sits back and pinches pennies and us fans continue to suffer.


Only in islanders country.

 

[MJF]

This guy is an ******* and for anyone doubting there was ever a deal in place, what do you have to say now?

Who cares!!!

You guys want to have a pissing contest about whether one poster's info was credible or not.

Meanwhile, the immediate future of the team is in limbo, again, thanks to Charles B. Wang. The man who continues to damage the Islanders brand.

 

[TROLLCHUK]

Who cares!!!

You guys want to have a pissing contest about whether one poster's info was credible or not.

Meanwhile, the immediate future of the team is in limbo, again, thanks to Charles B. Wang. The man who continues to damage the Islanders brand.

Damage the Isles brand? Really nowhere to go but up with this brand. Can't get much worse? Right guys and gals?????

 

[scott99]

I wouldn't be surprised if Wang is lying about "sold the team to other bidders". Wang is the most untrustworthy person in sports ownership.

 

[Skip To My Lou]

Bahahahahahahahaha.

What a little **** Wanger is. Hope this crook gets out as soon as possible.

 

[kasper11]

This is what caught my eye as well

So basically we have new owners but they will be in court battles for years while Wang sits back and pinches pennies and us fans continue to suffer.


Only in islanders country.

If there are new owners, this shouldn't affect anything. Barroway isn't seeking ownership of the team, he is seeking a breakup fee from Wang.

 

[MJF]

Damage the Isles brand? Really nowhere to go but up with this brand. Can't get much worse? Right guys and gals?????

Not while Wang still owns the team. You think things can't go any lower???

 

[KOforprez2016]

So because the team is sold, but not to barroway, us fans have to sit back and wait for this whole lawsuit to end when the deal could have been finalized?

You are a piece of work Mr. Wang. When you finally sell the team, you still find ways to make us miserable.

 

[leeroggy]

Let's also remember that in this article it clearly states Wang has sold the team to another buyer!

BTW, this article pretty much confirms the numbers in some other posts. Some of our posters thought when we threw out numbers like $350 - 400 million we were nuts. We weren't.

 

[MatthewBarnabysTears]

Interesting...one would think there would be some kind of writing if they were far enough along that a breakup fee was agreed upon. Even if the full agreement isn't done, there should be a memorandum of understanding or something laying out the basic terms.

It seems weird to not have any written protection with such a big deal.

I'm mystified as to why Wang — if he could breach the agreement with Barroway and gain a couple hundred million — wouldn't just pay the break-up fee and avoid the lawsuit/bad press.

 

[PK Cronin]

Who cares!!!

You guys want to have a pissing contest about whether one poster's info was credible or not.

Meanwhile, the immediate future of the team is in limbo, again, thanks to Charles B. Wang. The man who continues to damage the Islanders brand.

I care. The debbie downers are a big problem on our board, constantly belittling everyone. It's time they ate crow. Pages and pages were dedicated to how wrong all the insider info was, including that Gallof fellow.

I'm more concerned about that line about how he sold to someone else, but the previous 13434343 pages shouldn't be ignored either.

 

[KOforprez2016]

If there are new owners, this shouldn't affect anything. Barroway isn't seeking ownership of the team, he is seeking a breakup fee from Wang.

Are u sure about this? Barroway was seeking ownership, heck, was GOING to be owner but because of Wang he is being screwed out of being owner. I would love to just have the team sold, but I don't think its going to just disappear

 

[Bunk Moreland]

Let's also remember that in this article it clearly states Wang has sold the team to another buyer!

BTW, this article pretty much confirms the numbers in some other posts. Some of our posters thought when we threw out numbers like $350 - 400 million we were nuts. We weren't.

According to what he told Barroway.

That is not confirmed what so ever I wouldn't be surprised if Charles was just blowing smoke to AB.

 

[JeffNYI]

Said it twice in the other threads so I apologize..

But I knew the Ballmer/Clippers thing caused Wang to pump the brakes.. and quite frankly I don't blame Wang at all..

That deal changed the sports team valuation landscape... Wang had to re-think the situation... Any one of us would do the same... and he has advisers who were telling him as much...

NOW SOMEONE PAY THAT KNOB $548M AND GET HIM AWAY FROM OUR TEAM.

 

[2ndGenIslander]

Isles owner Charles Wang hit with $10mil lawsuit for backing out of deal to sell team

As per the NY Daily News:

http://www.nydailynews.com/sports/h...wang-hit-10-million-lawsuit-article-1.1899742

In papers filed in Manhattan Supreme Court, Barroway’s corporation, NY ICE claims the parties “shook their hands on an agreement” and NY Ice started to line up NHL approval and financing.

However, Wang “without notice, abruptly refused to proceed to close the transaction and honor the terms of their 70-page purchase agreement but instead “improperly sought to renegotiate the already agreed upon price” in March.

In midsummer, according to court papers, Wang demanded $548 million for the team. When Barroway refused, Wang notified him on Aug. 1 that he had sold the team to other bidders.

Court papers blame the aborted deal on Wang’s “greed” which they said was inspired by the sputtering bid by Steve Ballmer to buy the Los Angeles Clippers basketball team for $2 billion.

This is all sooo charles. I'm not suprised one bit. Always has been a greedy ****. Shakes on it and takes it back..some businessman he is