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

[PK Cronin]

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.

Because that would make sense and he's Wang. See?

 

[seafoam]

@sealshockey: NY Daily News reports #Isles owner Charles Wang sued for $10 million for allegedly backing out of deal to sell Isles. #NHL

 

[scott99]

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.

NO, the article clearly states that "Wang TOLD Barroway he sold to other bidders". Doesn't mean it's true, doesn't mean their might actually be other bidders out there. I'm holding off ANY excitement until a press conference confirms Wang has sold.

 

[KOforprez2016]

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.

Why would barroway file a lawsuit if he was lying?

 

[thedonger]

I think someone *cough*...isles fan...*cough* owes BillD a culpa mea.

 

[stranger34]

I think many here owe BillD an apology.

This seems really strange that the team has been sold for 11 days but there have been no leaks?

 

[PK Cronin]

Why would barroway file a lawsuit if he was lying?

For backing out of the original deal.

 

[thedonger]

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.

Pretty much this 1000%. No one can trust a single thing that dirt bag says.

 

[MJF]

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.

It s an internet bulletin board. For entertainment purposes only. Never a primary source of information.

I'm more concerned about how Wamg may have sold this team to somebody else and the fact that this could end up in court, dragging along.....

 

[KOforprez2016]

I think many here owe BillD an apology.

This seems really strange that the team has been sold for 11 days but there have been no leaks?

Take what you hear from Wang with a grain of salt

When has the man been known for being an honest, do-gooding, for the fans kind of guy?

 

[MatthewBarnabysTears]

NYDN really buried the lede — an owner of an NHL team claiming he sold the team to a mystery buyer no one knows about and who may not have even been vetted by the league is a way bigger deal than the lawsuit over the break-up fee.

 

[scott99]

Why would barroway file a lawsuit if he was lying?

The lawsuit was based on Wang backing out, not on him selling to other bidders.

 

[islesjuncky]

So he did sell the team

 

[seafoam]

Sounds like Wang didn't want to sell Barroaway and told him he sold the team to another buyer to get him off his back?

I'm really confused.

 

[KOforprez2016]

“The failure to follow through with the sale has caused NY Ice irreparable harm” and if the deal can’t go forward, the firm says in court papers, “NY ICE is entitled to the $10 million ‘break up’ fee to which the parties agreed” or to be reimbursed for its costs and losses.

They agreed to a 10 million dollar fee if the deal fell through is what I'm getting from this. And if Wang doesn't give the 10 mill then the lawsuit will happen.

Am I reading this wrong or is this what it seems like to you all as well??

 

[periferal]

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

He's not a man. He's a "wang." That's the only way to describe him. I've never encountered a human being who is a bigger combination of $*** bag and ineptitude in my life.

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

Exactly. For all you guys all over Bill about not having "inside information," you probably owe him an apology now. If wang wasn't such a wang and backed out of the sale, the deal would have been well on its way to closing.

And another thing....So much for all of you uninformed posters claiming that Barroway doesn't have enough money to purchase the team or run it at a high level. Anyone who can put together 400+ million, whether it's theirs or not, has the capital to run an NHL franchise as needed.

Whether or not Barroway is capable of leading the Islanders to a Cup is one thing, but we know one thing for certain...Wang certainly isn't despite all his cash (mostly earned illegally).

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.

Wouldn't be surprised? I would BE SURPRISED if there was another deal in place. Why does ANYONE around here believe anything that wang says or that he would ever do the right thing. I mean when your girlfriend cheats on you 20 times and then goes out until 4 in the morning do you then say, "You know...I would be surprised if she's out with another guy right now."

So much for this being resolved this year.

 

[stranger34]

I'm not getting my hopes up about the alternative buyers. It seems a lot more plausible that he used a phantom buyer to make Barroway desperate than it does that this team was sold 11 days ago and no one knows anything about it.

 

[kasper11]

I think many here owe BillD an apology.

This seems really strange that the team has been sold for 11 days but there have been no leaks?

Well, it seems less strange when you realize that the article says Wang and Barroway reached an agreement on March 10, and nobody knew about it until MacKenzie said something on March 27.

 

[Islanders1932]

I'm not getting my hopes up about the alternative buyers. It seems a lot more plausible that he used a phantom buyer to make Barroway desperate than it does that this team was sold 11 days ago and no one knows anything about it.

This is originally what I thought as well, but why not just tell him he was having an issue over the compensation of the deal?

 

[MJF]

“The failure to follow through with the sale has caused NY Ice irreparable harm†and if the deal can’t go forward, the firm says in court papers, “NY ICE is entitled to the $10 million ‘break up’ fee to which the parties agreed†or to be reimbursed for its costs and losses.

They agreed to a 10 million dollar fee if the deal fell through is what I'm getting from this. And if Wang doesn't give the 10 mill then the lawsuit will happen.

Am I reading this wrong or is this what it seems like to you all as well??

The way the article reads, Barroway filed a lawsuit to force Wang to pay Barroway's group the $10M breakup fee.

 

[MatthewBarnabysTears]

This is originally what I thought as well, but why not just tell him he was having an issue over the compensation of the deal?

I don't see how such a lie would serve Wang's interests. This isn't like getting a friend to stop hassling you about a book he wanted to borrow. It's not like breaching a $400 million agreement — and then breaching on a $10 million break-up fee — can just be waved aside with the right excuse.

 

[MJF]

What I find strange about all this is that Wang has another sale of the team already in place and we've heard not one word about it. Unless the second buyer is the Ratner/Barclays group. Hmmmm.

 

[thedonger]

Not sure if this post will get yanked, but I think it's worth noting that The poster "Mattyboy" seems to have been correct at every stage. He even mentioned over the weekend that all the details as to why the deal fell apart would come out this week.

The reason I think this is worth noting is he also mentioned that another buyer in the works before all the ***** hit the fan.

 

[PK Cronin]

“The failure to follow through with the sale has caused NY Ice irreparable harm†and if the deal can’t go forward, the firm says in court papers, “NY ICE is entitled to the $10 million ‘break up’ fee to which the parties agreed†or to be reimbursed for its costs and losses.

They agreed to a 10 million dollar fee if the deal fell through is what I'm getting from this. And if Wang doesn't give the 10 mill then the lawsuit will happen.

Am I reading this wrong or is this what it seems like to you all as well??

The lawsuit is to get the 10 million dollar fee, since Wang apparently isn't paying it.

The events so far for clarification:
Barroway and Wang come to an agreement on a sale, verbal and with a handshake.
Both agree on a the 10 million dollar fee against either side if one decides to back out.
After the Clippers are sold, Wang has second thoughts on the sale price.
Wang then either sells to someone else instead or lies about selling to someone else, and tells Barroway that he's already sold to someone else at a higher price.
Barroway is now going to sue Wang for that 10 million dollar fee they agreed on.

Am I missing anything anyone?

 

[Hershey Hockey]

Really quite incredible when you think about it. Had a billionaire's mistress on the other side of the country not released an audio recording of him saying racist things, we may very well be talking about what direction our new owner Barroway would be taking the team in.