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NY Islanders Getting New Owners

Tue, 19 Aug 2014 23:27:00 +0000

iStockPhoto/Thinkstock(UNIONDALE, N.Y.) -- A group led by former Washington Capitals co-owner Jon Ledecky and investor Scott Malkin have reached an agreement with Charles Wang to take over ownership of the New York Islanders in two years.

The deal is pending approval by the NHL board of governors.

The deal calls for Ledecky and Malkin to purchase a “substantial minority interest” in the club, with them taking over majority ownership in a couple of years.

“We are pleased to have the opportunity to become partners in the New York Islanders with Charles, and to pursue our shared dream of winning a fifth Stanley Cup for the greatest fans in the NHL,” Ledecky said in a statement.

The Islanders will play their final season at their longtime home, the Nassau Coliseum, before moving to the Barclays Center in Brooklyn in 2015.

Copyright 2014 ABC News Radio

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