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

[Mitchnesses]

A sale wouldn't be approved until it was both financed and approved by the NHL BoG.

The $10 million dollar suit here is about the sale reaching a specific point in the process that should've been too late to back out of. The company suing wants either the sale to go through or the litigation to proceed.

It's possible that Wang does have another buyer who is awaiting the two things I mentioned in the first sentence, but you wouldn't know until that information gets released. The only way that info gets released is if someone leaks it or the sale is actually approved.

It is possible that the team has been sold in understanding, but is awaiting financing or BoG approval. It is also possible that Wang is full of ****.

If Wang actually does sell the team for a significantly higher price than the $420 million, then it might be worth his word taking a hit and the $10 million "fee" for backing out of the previous deal (which might get settled for less or have less awarded at the end of the court case.)

If Wang has a deal in place, it might be worth it for him if the numbers are high enough. If Wang doesn't have a deal in place, it's not going to make someone else who is thinking about plopping down $0.50 billion more comfortable in pursuing ownership of the team.

As a fan of this team, I am hoping there is another buyer that has already agreed to terms. If there is no other buyer in sight, one would think the lawsuit and lack of other bidders might knock some sense into Wang. I'm hoping for the former.

,
Mitch

From one Mitch to another, GET MITCHY WITH IT!

 

[PROMputt]

Who own da Isles?

Oooownz, oooownz!

 

[KOforprez2016]

You stole my rant!

Apologies good sir

 

[mitchy22]

From one Mitch to another, GET MITCHY WITH IT!

I'm always getting Mitchy with it. In fact, I've got more Mitchy than I really know what to do with.

,
Mitch

 

[Flair19Woo]

Smoke em' if you got em'.

 

[Islanders1932]

Another name flying around the rumor mill: Matt Hulsizer. Again these are all rumors, but at this point its fun to speculate.

 

[Riseonfire]

I'm always getting Mitchy with it. In fact, I've got more Mitchy than I really know what to do with.

,
Mitch

 

[mitchy22]

Glad I got to see him before he left.

,
Mitch

 

[Hip Of Rick*]

Vintage Islanders!

 

[Darth Milbury]

Man, how about that Wang? Is that guy a wacky nut, or what?

I want to party with that dude!

 

[Wanderson]

I guess he sold the team to Wang Jr... for free.

 

[Mehar]

I am not a fan of the Islanders, but the day Charles Wang is no longer the owner of this team, will be a great day for all the loyal Islanders fans who had to put up with so much inept management and BS for too long. I hope that day is near, even with Wang backing out of his agreement to sell the team.

 

[Hip Of Rick*]

I highly doubt the team is actually sold. Wang bluffed and should be out 10 million.

Barroway probably wouldn't have been our savior when it appears he had line up alot of investors for 300 million.

 

[Wanderson]

I am not a fan of the Islanders, but the day Charles Wang is no longer the owner of this team, will be a great day for all the loyal Islanders fans who had to put up with so much inept management and BS for too long. I hope that day is near, even with Wang backing out of his agreement to sell the team.

Well, Charlie Wang just made it clear. If anyone wants to buy this franchise, they got to pay a big overprice. We'll never get rid of that greedy ****.

 

[seafoam]

Okay so, handshake agreement between Barroway and Wang to sell the team (so BillD was right), Wang backed out, and now Barroway wants the 10M that they apparently agreed to as a price if the deal fell through (Wang not doing that because he's cheap).

 

[YearlyLottery]

I highly doubt the team is actually sold. Wang bluffed and should be out 10 million.

Barroway probably wouldn't have been our savior when it appears he had line up alot of investors for 300 million.

I feel that a billionaire is a pipe dream at this point. Many teams are starting to get bought with investors. At this point in time beggars can't be choosers. I would have jumped for joy over Barroway buying this team.

 

[hoser14]

I am not a fan of the Islanders, but the day Charles Wang is no longer the owner of this team, will be a great day for all the loyal Islanders fans who had to put up with so much inept management and BS for too long. I hope that day is near, even with Wang backing out of his agreement to sell the team.

WTF! It's time for NHL Commissioner Biteme to tell Chuckles to go away, he's stayed way past his expiration date.

He's lucky that some foolish enough to offer him $420 million for a team that Forbes said isn't worth $200 million (Forbes listed the NY Islanders value in November 2013 as $195 million). Asking for $548 million is almost a bigger joke than hiring your team's back-up goalie as your General Manager.

BOO! HISS! BOO!

 

[Hip Of Rick*]

I feel that a billionaire is a pipe dream at this point. Many teams are starting to get bought with investors. At this point in time beggars can't be choosers. I would have jumped for joy over Barroway buying this team.

Either way Barroway appears to be out. But than again this is Wang and the Islanders so Barroway may very well be the owner in a few months

 

[BillD]

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?

Nope. That nails it. Like I have said, we were shocked that Wang went underground and wouldn't return Barroway's calls after the agreement/handshake. Wang's attorneys and Barroway's people knew the arrangements ($10MM break up fee) so Wang is not going to welch on it like he would love to do, but it will have to be heard.
The selling price and final details were greater than Wang put on the team of $375MM for 75%. Oh, BTW......Wang is only acting out of pure greed. He does not "love the Islanders" lol.

 

[The Underboss]

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

I got the crow on the BBQ now. Taking orders now. Serving #1, #1 please.....

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

I can't wait to hear the excuses and backtracking.




There should be plenty of crow eating around here. And those who have egg on your face, the towels over there, go clean yourself up!



Wang, you sneaky devil you. WOW!

 

[YearlyLottery]

Nope. That nails it. Like I have said, we were shocked that Wang went underground and wouldn't return Barroway's calls after the agreement/handshake. Wang's attorneys and Barroway's people knew the arrangements ($10MM break up fee) so Wang is not going to welch on it like he would love to do, but it will have to be heard.
The selling price and final details were greater than Wang put on the team of $375MM for 75%. Oh, BTW......Wang is only acting out of pure greed. He does not "love the Islanders" lol.

Have you heard anything about the team being sold in August 1st?

 

[The Underboss]

http://www.cbssports.com/nhl/eye-on...ued-for-backing-out-on-deal-to-sell-islanders

 

[The Underboss]

http://sports.yahoo.com/blogs/nhl-p...king-out-of-deal-to-sell-isles-205943798.html

 

[islesfan3913]

I think this may be the last straw for Wang. I personally think the NHL sees how bad of an owner he is and after something like this I think they will push hard for him to sell.

Maybe someone with more knowledge of law can answers this for me. If the court rules in favor of Barroway would that force Wang to sell for the original terms of the deal?

 

[The Underboss]

https://twitter.com/KatieStrangESPN/status/498951678767661056

According to #Isles team spokesperson re: Barroway suit: "There is no merit to the reports."