Charles Wang reportedly in talks to sell Islanders

Charles Wang is reportedly in talks to sell a majority stake in the New York Islanders. (Reuters)

Charles Wang is reportedly in talks to sell a majority stake in the New York Islanders. (Reuters)

QMI Agency

, Last Updated: 12:21 PM ET

New York Islanders owner Charles Wang is in talks to sell a majority stake in the NHL franchise, according to TSN.

It is estimated the Isles lose approximately $10 million per year. The New York Post reported last year the club has a $75 million loan to pay off at the end of this season.

Wang reportedly tried and failed to sell the team for $300 million in October 2012.

Wang has been the club’s majority stakeholder since 2004. In his nine seasons as owner, the Isles have only made the post-season twice and have not won a playoff round.

The team is set to switch rinks and will move into the recently-built Barclays Center – home of the NBA’s Brooklyn Nets – at the start of the 2015-16 season.


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