Update: According to News 12, after the two years Wang will maintain minority ownership after the two years.
Wang will remain a minority owner after two years. #NHL #Islanders
— Kevin Maher (@KMaherNews12) August 19, 2014
According to Arthur Staple of Newsday, Charles Wang has sold a minority share of the Islanders to Jonathan Ledecky and Scott Malkin. Ledecky and Malkin will own a minority share of the Islanders for the next two seasons and then assume control of the team after that.
The financial terms have yet to be released. The sale is pending the approval of the NHL BOG.
BREAKING NEWS: Charles Wang has agreed to sell the #Isles to John Ledecky, former co-owner of the Capitals, and investor Scott Malkin.
— Arthur Staple (@StapeNewsday) August 19, 2014