CLOSE

Now Commenting On:

Chris Botta of the Sports Business Journal has the numbers on the Islanders sale, as Charles Wang tries to find a buyer for the team.According to Botta, Wang has set a value for the club of $375 million and is attempting to sell  a 75% stake in the team and the option to purchase the remainder in five years. He also thinks that it looks like Wang is looking to sell as soon as possible.As far as revenues go the Islanders lost $4.8 million last year, according to Botta, which could have been worse if not for nearly $15 million in revenue sharing that the Islanders received from the league.In years past, the Islanders did not receive revenue sharing as they were deemed to be a team in a major market that was ineligible to receive the extra money. However, when the lockout ended in January 2013 the new CBA was changed to allow teams like the Islanders to receive revenue sharing.
Tags: Islanders , Kevin Schultz
Login with Facebook Login with Twitter Login with SNY.tv