Barroway was seeking either an enforcement of the deal, he believed Wang and himself had agreed upon to sell the team, or a $10 million "break up" fee. Barroway filed suit on August 11, alleging that Wang backed out of a handshake agreement to sell the Islanders to him for $420 million.
Wang later sold the Islanders to Jon Ledecky and Scott Malkin, which was approved by the NHL Board of Governors on Tuesday. Barroway is reportedly vying to purchase a majority stake in the Arizona Coyotes, which was first reported by the New York Post on Thursday. As part of a purchase of the Coyotes, according to the Post, Barroway would drop his lawsuit against Wang.