Tuesday, September 30, 2014

Sale Gets BOG Approval But Isn't Finalized

According to multiple reports, the NHL BOG voted today to approve the Islanders sale to Jonathan Ledecky and Scott Malkin.  It was announced last month that Ledecky and Malkin would purchase a minority stake in the Islanders from Wang and transition it to a majority stake in two years.  After which time, Wang will remain on as a minority owner of the team.

While it got approved, the deal still isn't finalized yet, according to Jim Baumbach from Newsday.  The Islanders are reportedly hoping to close the sale by the start of the season, according to Baumbach.
To learn more about the future Islanders owners you can click here and here.
Well, this is very surprising as it had been reported since this news broke last month that a vote likely wouldn't take place until December.  I would've preferred Wang being 100% out of the picture, but this is the next best thing.

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