Wednesday, June 18, 2014

Botta: Barroway Looking To Buy 80% of Islanders

The latest turn in the Islanders sale talk came this morning from Chris Botta as he said on his weekly podcast that Andrew Barroway and his partners are looking to purchase 80% of the team.

There had been some confusion almost from the outset about how much of the team Wang wanted to sell.  If it was a minority stake, control, or the entire team.

Keeping a minority stake in the team makes sense for Wang as following the teams move to Brooklyn it would give him an avenue to recoup additional funds on top of the sale price of the team.

While I wouldn't be thrilled if Wang remained on in minority capacity as I was hoping he would be rid from the team forever as part of a sale it wouldn't be the worst thing in the world because he would no longer be in control.  

Separate from this is that I have a hard time seeing Barroway get any less then 100% of the team for 400 million dollars which is the reported purchase price.  

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