With nothing and I mean nothing going on in the entire league I thought it would be a great time to get away for a few days and visit my family in Florida. It appears that the Islanders’ do not want me lounging in a pool sipping on rum based beverages so here I am in front of a keyboard to discuss the circus that is Charles Wang and friends.
Potential buyer Andrew Barroway is suing Islanders’ owner Charles Wang for 10 million dollars after Wang allegedly backed out of deal to sell the team. In a lawsuit filed to the Manhattan Supreme Court it is stated that Wang had a change of heart and back out of the deal. Wang’s decision to hold onto the team was impacted by the sale of the NBA’s Los Angeles Clippers for 2 billion dollars. This was a very convenient time to develop “cold feet.”
Barroway’s group claims that a deal was reached in principle and both parties shook on an agreed price of 420 million dollars. However, Wang suddenly refused to proceed with the sale of the team and wanted to renegotiate the price after Wang saw the Clippers’ sale. Barroway’s suit claims that Wang then set the new price for the team at 548 million dollars.
So what does this all mean for the Islanders? Thankfully, to the on ice product and the locker room it means nothing. However, publicly, this news furthers the belief that this franchise can not get out of its own way. There are two sides to this story. Islanders’ owner Charles Wang once again comes off looking like a kid who can not pick out what flavor of ice cream he wants. Potential buyer Andrew Barroway looks like a guy desperate to own a team so much so that he is willing to take out massive loans to fund this purchase. I am not defending Wang here but do we really want a new owner that had to shake down the couch cushions to come up with enough money to get to 420 million dollars?
There is precedent set in this country for oral agreements and contracts. This will however be difficult to prove. I’m not going to pretend to be a lawyer but honestly both parties look bad here. I have repeatedly said that I’d be willing to give Barroway a shot as owner but I have been more than a little skeptical. The more I look into the financials of the deal, the more doubt creeps in. With all that being said, Barroway did reach the sale price and was left standing in the rain holding an umbrella full of holes. Regardless of what the outcome is of this lawsuit, it should not be taken lightly.
We are all sick of the perception that the rest of the league has on our team. The frustration really sets in because the management running the Islanders brings on so much of dysfunction that has caused this perception. The sale of the Clippers has nothing to do with the Islanders. However, the better product put on the ice, the move to Brooklyn and the luxury boxes at the Barclays will effect the value of this team. I found it puzzling when news broke that Wang was listening to offers. I honestly thought it was a year too early.
It is perfectly fine to listen to offers, but you can not set prices and then back away because you are unsure if you want the team or you simply want more money. It’s these actions that lead to the perception that this team is still a chicken running around with its head cut off. Until there is stability from the head down, expect this stereotype to remain in full effect. As always for all things hockey, please follow me on twitter at @DanDanNoodles78. If you need me, I'll be back in the pool
New York Islanders Blogger • 
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