Rus
Bookmakers 10 dec 2023 at 12:20

An American businessman is selling a 10% stake in the New York Islanders

Dean Hall
Author
An American businessman is selling a 10% stake in the New York Islanders

An American entrepreneur, Scott Malkin, is set to sell a 10% stake in the New York Islanders for $175 million.

According to Forbes, the league has already been informed of this potential deal by a representative of the team.

It's worth noting that Scott Malkin, alongside Jon Ledecky, acquired an 85% share in the club back in 2016 for $485 million from billionaire Charles Wang. In early 2021, they bought the remaining 15% of the shares from Wang's family.

This year marks the second time Malkin is selling a share in the Islanders. During the summer, former NHL and NBA executive John Collins purchased a minority stake from him, becoming the team's operational partner overseeing all business operations.

It's worth adding that after 24 games, the Islanders hold the 9th position in the Eastern Conference, trailing the playoff zone by just one point.

  • Read on: In France, they might legalize online casinos