clock menu more-arrow no yes

Filed under:

How Much Will the Islanders Sell For? Less than that, more than this

New, comments

It's definitely probably between $420 million and $548 million. Does that work for you?

"Heads, it's $420 million, tails it's $548 large."
"Heads, it's $420 million, tails it's $548 large."
Anthony Gruppuso-USA TODAY Sport

The third question around the announcement of the planned New York Islanders sale -- after "Who are these guys?" and "What are they going to do with/to the team?" -- is, "How much are they paying?"

(However, I'd argue a more important third question is, "Can they afford what they're paying and still invest in the team?")

The answer isn't clear yet. But the Post has some informed speculation:

one league source said it would be safe to say it is in the ballpark of $548 million.

That was the number mentioned in a lawsuit brought against Wang two weeks ago by hedge-fund honcho Andrew Barroway, who said he had a handshake agreement with Wang to acquire the team for $420 million before Wang backed out, citing "another offer" and changing his asking price to $548 million.

Several sports investment bankers, however, have told The Post in recent days they doubt the Islanders would sell for north of Barroway’s $420 million offer.

The final tally will come out soon, or at the latest if and when the NHL board of governors approves the sale this winter.

For now, believe the self-interested league source (they like to have teams valued as highly as possible) or believe the self-interested bankers (they like to be seen as experts who totally made the right call and are never taken by surprise). Choice is yours.

But, whatever, it's not your money.