NHL News: Islanders, Malone, Blake and Refs CBA

NHL: Los Angeles Kings at San Jose Sharks
  • Barbara Ross and Pat Leonard of the NY Daily News: Andrew Barroway has filed a $10 million lawsuit against Islanders owner Charles Wang for backing away from handshake deal to sell the team for $420 million. The suit alleges that once Wang found out the LA Clippers sold for $2 billion dollars, Wang wanted to increase the sale price to $548 million. The lawsuit claims they “shook their hands on an agreement” for $420 million.

    “The failure to follow through with the sale has caused NY ICE irreparable harm” and if the deal can’t go forward, the firm says in court papers, “NY ICE is entitled to the $10 million ‘break up’ fee to which the parties agreed” or to be reimbursed for its costs and losses. The deal negotiated in March called for NY ICE to acquire 100% of the equity in the Islanders and Wang’s corporations, CBW Inc. CBW LP and CBW LLC, would get a 25% interest in NY ICE.

  • Joe Smith: Former Lightning forward Ryan Malone’s disposition hearing continued yesterday for his DUI and cocaine possession charges. They are likely working on a deal.
  • Dan Rosen: The Kings will retire Rob Blake’s No.4 jersey on January 17th when they play the Ducks. He’ll be entering the Hall of Fame this year.
  • Renaud Lavoie: The league officials (refs) are looking for a new CBA, with a meeting taking place today in Toronto.

3 Comments

  1. Henrybemis

    August 12, 2014 at 5:15 pm

    Oh booooo hooooo….. Maybe you should get a signature next time doofus. Hilarious to hear someone with millions (prob billions) negatively referring to someone as “greedy”. I’m sure greed has nothing to do with a $500m investment, and I’m sure the goal is to make $0 on it. I do not understand these people. We are ALL greedy, unless you do the opposite and give away your stuff. Do you desire nicer things for yourself? You’re greedy. Do you want more $? Greedy. Do you fail to execute a legally binding document and then cry like a baby when you don’t get your way? Call your lawyers. Maybe he did that just to be a pain in the butt, with all that $ he can actually pay to be a thorn in your side. Maybe he should ask the NHL to force him to sell his team for this verbal violation.

  2. ChrisB

    August 12, 2014 at 7:04 pm

    I agree calling Wang greedy is really hypocritical, considering I think there’s greed on both sides. Then again, this could also just be a ploy to get Wang to lower his price, using the bad press to do so.

    I honestly don’t think all the hard facts are out there, yet. Barroway and Wang are owners and operators of multi billion dollar companies, I’d be very hard pressed to believe there’s absolutely nothing in writing up to this point. They’ve been negotiating since March(the latest), if everything since then has been done under a “gentleman’s handshake”, then Barroway has got to be the worst businessman ever. This is a business transaction, not a yard sale.

  3. Henrybemis

    August 12, 2014 at 10:07 pm

    Right. Should be a pretty straight-forward suit. “Show me the contract”, then a ruling. Either way, one of em is a bad businessman like you said. Better than me though that’s for sure, til the billions start rolling in.