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

[airbus220]

Originally Posted by Dutch Frost

Exactly my point... post after post that this is a done deal and now its "well I knew all along but didnt want to say"

Actually the poster you seem to dislike posted something about a break up fee long time ago, but not in the SALE threads.
So you don't have a point and your smily you posted is a complete JOKE.

 

[The Underboss]

http://espn.go.com/new-york/nhl/sto...-islanders-owner-andrew-barroway-history-wang

 

[A Pointed Stick]

Two points:

1) Bill was right, after all. Maybe some of you should not have torn into him like he was a 10 year old posting rumors on a PC gaming site. I get unverified rumor disdain, but some of your attacks were unnecessarily blood thirsty. He is a pretty nice poster who was doing what he thought was his part as a fan community member. And he was right it now turns out.

2) My disgust of Charles Wang hit a new low today. If any of you care to brow beat my incessant attacks on the man just save it from now on. He earns every ounce of our contempt.

 

[MJF]

Since nothing in sports happens in a vaccuum, how could the "other buyer" of the Islanders actually agree to a higher asking price knowing that Andrew Barroway already agreed in principal to purchase the team for $420M.

 

[A Pointed Stick]

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.

What some of us have been saying all along. Cheers Bill. I think today is vindication for you. It just sucks that we all got screwed by WANG.

 

[Nikolai Koolaidman]

So close...yeah I expecting wang for a while now since hes asking for over 500 mil nobody in their right mind would pay that much for the isles.

 

[scott99]

"Who OWNS, OWNS" the Islanders, sorry I love Slapshot so couldn't resist.

This question goes out to all you lawyer types. What IF Wang has been proven to have been found guilty of wrong doing by the NHL (Board of Govenors), can he be FORCED to sell the team to Barroway, and/or forced to sell the team to the NHL who in turn would sell the team to Barroway. By wrong doing, I mean IF he's found to have been lying about the OTHER bidders, or found to have been negotiating in bad faith with Barroway.

 

[A Pointed Stick]

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

Love seeing you back Mitch.

What happens if we do have a buyer who takes this club for way too much money? What happens when the club does not realize whatever financial gains the new owner expects?

Off the top of my head I expect this would be bad for us long term.

 

[JeffNYI]

"Who OWNS, OWNS" the Islanders, sorry I love Slapshot so couldn't resist.

This question goes out to all you lawyer types. What IF Wang has been proven to have been found guilty of wrong doing by the NHL (Board of Govenors), can he be FORCED to sell the team to Barroway, and/or forced to sell the team to the NHL who in turn would sell the team to Barroway. By wrong doing, I mean IF he's found to have been lying about the OTHER bidders, or found to have been negotiating in bad faith with Barroway.

It's normal to bluff during negotiations.

 

[The Underboss]

If Wang notified Barroway that he's sold to someone else, WHO? Of is he blowing smoke up Barroways butt?

 

[Hip Of Rick*]

If Wang notified Barroway that he's sold to someone else, WHO? Of is he blowing smoke up Barroways butt?

Was probably a bluff by Wang. If the team was sold something would have leaked out

 

[Groin Of Bates]

Anyone read thereluctank on twitter? He's been posting screenshots of the lawsuit:

https://twitter.com/thereluctantk/status/498941361748733953/photo/1
https://twitter.com/thereluctantk/status/498943750379683841/photo/1
https://twitter.com/thereluctantk/status/498943929350639619/photo/1

etc.

There are plenty more. Friend tipped me off to these if anyone wants a read

 

[dtrain24]

All I can say is **** you Charles Wang. Though I'm not surprised that greedy little ******* backed out of a deal. As if he's not rich enough already.

 

[MatthewBarnabysTears]

Everyone should read the screenshots of the actual complaint on twitter (there's 13 of them now). Lots of detail there.

 

[scott99]

It's normal to bluff during negotiations.

This wasn't a bluff, $420 mill was an agreed upon price. In fact, the agreement letter was a 70 page document. All that was left was for a vote by the BOG.

 

[stranger34]

>>Katie Strang ✔ @KatieStrangESPN
>>Follow
>>According to #Isles team spokesperson re: Barroway suit: "There is no merit to the >>reports."

LOL

An alternative translation: "These are not the droids you are looking for"

 

[A Pointed Stick]

Anyone read thereluctank on twitter? He's been posting screenshots of the lawsuit:

https://twitter.com/thereluctantk/status/498941361748733953/photo/1
https://twitter.com/thereluctantk/status/498943750379683841/photo/1
https://twitter.com/thereluctantk/status/498943929350639619/photo/1

etc.

There are plenty more. Friend tipped me off to these if anyone wants a read

Some of the language in the complaint makes me doubt the documents authenticity. "Pulled the rug out.." and so on.

 

[MatthewBarnabysTears]

How much does it say about the lack of media about this team that a sale could be pending board of governors approval without us having any idea how far along it was?

Some of the language in the complaint makes me doubt the documents authenticity. "Pulled the rug out.." and so on.

should it be in latin? lawyers and judges don't like reading dense legalese more than anyone else does.

 

[Isles72]

So close...yeah I expecting wang for a while now since hes asking for over 500 mil nobody in their right mind would pay that much for the isles.

barroway was willing to pay 420 m for 75% so .......

 

[stranger34]

This whole thing is very strange. If Wang is indeed losing money every year and has a $75M loan coming due why would he basically donate $10M in a break up fee and leave $420M on the table unless he has another buyer? He either has another buyer or got called making a terrible terrible bluff.

 

[Bexlyspeed]

how is it even possible that a sports owner has a secret, half-billion dollar buyer that no one knows anything about?

Is his name George Glass?

 

[nyisles]

I've only skimmed it so far, but the statements I've read reinforce what most of us have figured out over the last 10+ years: Wang might be the most clueless billionaire who ever lived. What is wrong with this guy?

 

[Isles72]

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

I googled him and found an old article from 2010 that stated he would have paid for the coyotes himself for 160 m . Would seem as though he has deeper pockets than Barroway.

http://www.businessinsider.com/who-is-matt-hulszier-2010-12

 

[JeffNYI]

This wasn't a bluff, $420 mill was an agreed upon price. In fact, the agreement letter was a 70 page document. All that was left was for a vote by the BOG.

I was referring to the part I bolded where the guy said "what would happen to Wang if he was lying about having another bidder?"

 

[JeffNYI]

barroway was willing to pay 420 m for 75% so .......

No the $420M was for 100%...

Wang would have bought 25% of the company buying the team.. it's complicated but in a way Wang was buying 25% of the Islanders from himself for $105,000,000.