Former Islanders owner Charles Wang passed away on Sunday at the age of 74, his attorney said in a statement.
Wang was the majority owner of the Islanders from 2000 to 2016, when he became a minority co-owner as Jon Ledecky and Scott Malkin became the primary owners.
"We are heartbroken by the news of Charles Wang's passing. New York Islanders's co-owners Dewey Shay, Scott Malkin and I were privileged to be selected by Charles to be his partners in the team," Ledecky said in a statement. "Charles loved the Islanders unconditionally. The arena at Belmont Park will be just one of his many legacies left to the team and to Long Island. His unique personality, his wonderful sense of humor and his extraordinary wisdom will be greatly missed."
"Charles Wang was a great man," Islanders President and GM Lou Lamoriello said. "He always spoke of his love for the Long Island community and the passionate fan base. Long Island would not have a team if it were not for Charles. Most importantly, we've all lost a great friend. Our deepest sympathies to his wife Nancy and children Kimberly, Jasmine, and Cameron."
During his time as majority owner, Wang spearheaded The Lighthouse Project, which would have resulted in a transformation of the Nassau Coliseum and the surrounding 150 acres. The proposal for the project was defeated in 2011.
In 2012, Wang announced that the Islanders would move to Barclays Center in 2015, with him saying "it was Brooklyn, or out of town."
Wang was born in Shanghai and moved with his parents to Queens when he was eight years old. He went to Brooklyn Technical High School before earning his Bachelor's degree at Queens College.