When exactly did he say this????

XxNYIxX
- XxNYIxX

Wait...you may have misinterpreted where my 'quote' began and ended. Wang simply said we were 'Broke' ....he obviously didn't make any reference to 2015 at that time.

During an interview prior to the big NO vote.
- keaner17

he said "This team is broke!!"

I never read that

XxNYIxX

Are you tryin to make me insane??

I had a good friend Rick but since I cant say that name anymore I just call him by his middle name

I have banned that name from my vocabulary
- kasperrko

It's today's mental exercise....like high volume cardio!

he said "This team is broke!!"

I never read that

XxNYIxX
- XxNYIxX

Yep, I believe it was an interview with Newsday.. the exact comment was,
"We're broke...period"
http://www.amny.com/2.109...s-wang-interview-1.841609

he said "This team is broke!!"

I never read that

XxNYIxX
- XxNYIxX

I also never heard the team is broke. Maybe if Wang hired good people and let them do their job the team would be better off even with a lousy building.

It's today's mental exercise....like high volume cardio!
- keaner17

Gee Thanks!!

Both my brothers called to tell me he had a shutout the other night. I was getting texts off the wall. I thought Iw as going to implode

Yep, I believe it was an interview with Newsday.. the exact comment was,
"We're broke...period"
http://www.amny.com/2.109...s-wang-interview-1.841609
- keaner17

"SO THE HOUSING AROUND THE ARENA IS INDEPENDENT/WANG: Yeah, it's different developers. It would be the same model here if somebody said, 'Build an arena.' We said we can't. Things started basically when we went to [Nassau County executive Tom] Suozzi and said, 'Okay, what are we going to do?' I just bought the team to save it for Long Island.' Wonderful, all the violins were playing. Okay, what are you going to do? He said, 'I can't fix the arena. I don't have any money. We're broke.' He just got into office. He said, 'We're broke, period. Matter of fact, I have to find a way so we don't lose $1.5 or $2 million a year keeping it up.' I said, 'You've got to make the elevators work. We can't get up to the suites. You've got to put bathrooms in. This is nuts.' We pay for bathrooms. We pay for the dasher board that goes around the rink just to make it something."

Nassau county is broke.. not Wang

XxNYIxX

Yep, I believe it was an interview with Newsday.. the exact comment was,
"We're broke...period"
http://www.amny.com/2.109...s-wang-interview-1.841609
- keaner17

The team or the county? In the interview, I think Wang is talking about something Suozzi said to him:

"Things started basically when we went to [Nassau County executive Tom] Suozzi and said, 'Okay, what are we going to do?' I just bought the team to save it for Long Island.' Wonderful, all the violins were playing. Okay, what are you going to do? He said, 'I can't fix the arena. I don't have any money. We're broke.' He just got into office. He said, 'We're broke, period..."

Edit...never mind, X is a better detective than I am and beat me to it...

I also never heard the team is broke. Maybe if Wang hired good people and let them do their job the team would be better off even with a lousy building.
- ses111

I remember about 5 years ago when the team released their books to Newsday and Forbes, it was said they could sell out every regular season game and playoff game and would still be in the red due to the SMG deal. That problem caused the two previous owners to practically run out screaming. I don't think hiring better people would have made a difference.

"SO THE HOUSING AROUND THE ARENA IS INDEPENDENT/WANG: Yeah, it's different developers. It would be the same model here if somebody said, 'Build an arena.' We said we can't. Things started basically when we went to
- XxNYIxX[Nassau County executive Tom] Suozzi and said, 'Okay, what are we going to do?' I just bought the team to save it for Long Island.' Wonderful, all the violins were playing. Okay, what are you going to do? He said, 'I can't fix the arena. I don't have any money. We're broke.' He just got into office. He said, 'We're broke, period. Matter of fact, I have to find a way so we don't lose $1.5 or $2 million a year keeping it up.' I said, 'You've got to make the elevators work. We can't get up to the suites. You've got to put bathrooms in. This is nuts.' We pay for bathrooms. We pay for the dasher board that goes around the rink just to make it something."

Nassau county is broke.. not Wang

XxNYIxX

I may have pulled the wrong article then. I just did a quick google search to provide it.

Wang will sell the team!!!

Hi dream is over!!!

Needs money to pay loans... time to retire!!!

The team or the county? In the interview, I think Wang is talking about something Suozzi said to him:

"Things started basically when we went to
- UIF[Nassau County executive Tom] Suozzi and said, 'Okay, what are we going to do?' I just bought the team to save it for Long Island.' Wonderful, all the violins were playing. Okay, what are you going to do? He said, 'I can't fix the arena. I don't have any money. We're broke.' He just got into office. He said, 'We're broke, period..."

Edit...never mind, X is a better detective than I am and beat me to it...

Im like the Dark Knight!!

XxNYIxX

I may have pulled the wrong article then. I just did a quick google search to provide it.
- keaner17

Wang has never said he was broke... He's not broke & even if he was, he is too proud to EVER say it in public.

XxNYIxX

Wang will sell the team!!!

Hi dream is over!!!

Needs money to pay loans... time to retire!!!
- jimmc7722

What Loan, the Marriot?? He will just let that go into default... its not worth anything any more anyhow

XxNYIxX

Wang has never said he was broke... He's not broke & even if he was, he is too proud to EVER say it in public.

XxNYIxX
- XxNYIxX

Didn't say he said "he' was broke. He has a net worth of $890 million presently. I said the 'team' was broke. When your operation losses are $16 million per season despite a cable contract that pays you close to $20 million....you're pretty much out of resources.

What Loan, the Marriot?? He will just let that go into default... its not worth anything any more anyhow

XxNYIxX
- XxNYIxX

He won't even do that, he'll just refinance it. These real estate guys float money like this all the time.

He won't even do that, he'll just refinance it. These real estate guys float money like this all the time.
- keaner17

very true.. but that property is so worthless to him now that the team is gone from NVMC

XxNYIxX

What Loan, the Marriot?? He will just let that go into default... its not worth anything any more anyhow

XxNYIxX
- XxNYIxX

I can't see that!!!

Is it in a separate corporation. Or all under one umbrella?

I remember about 5 years ago when the team released their books to Newsday and Forbes, it was said they could sell out every regular season game and playoff game and would still be in the red due to the SMG deal. That problem caused the two previous owners to practically run out screaming. I don't think hiring better people would have made a difference.
- keaner17

Well IDK if that's true or accurate but I did read the same thing. A lot of these numbers are bogus. With that said if it is indeed true anyone who brought this team should've understood they would be losing money till the lease with SMG was done, period.

Wang has never said he was broke... He's not broke & even if he was, he is too proud to EVER say it in public.

XxNYIxX
- XxNYIxX

It's incredible how someone so proud would run a team the way he does.

Ok you guys lost me with Wang here

very true.. but that property is so worthless to him now that the team is gone from NVMC

XxNYIxX
- XxNYIxX

These banks are more than happy to refinance a loan like that to a guy who has the assets to cover it. They make money, he doesn't have to pay it, it just keeps changing hands. It's a real estate version of kiting. I don't know what Wang has in terms of liquid, but I'm guessing that $890 net worth is made up mostly of real estate and a certain pro hockey team. It doesn't leave a lot of room for $20 million annual losses, therefore cuts to team payroll ultimately become the tool of sustainment. That's why I think he'll keep the team and even pass it down to his son some day. This team is finally about to start hitting the black!

It's incredible how someone so proud would run a team the way he does.
- Cptmjl

Problem is he has no idea how to run a major sports team. then hires people who dont know how to manage a professional sports team who then hires a coach who dont know how to coach a professional sports team

Ok you guys lost me with Wang here
- kasperrko

Guy is the great American hero

Problem is he has no idea how to run a major sports team. then hires people who dont know how to manage a professional sports team who then hires a coach who dont know how to coach a professional sports team
- kasperrko

Even someone who knows zero about hockey would have an inkling their "baby" was being run poorly