New ownership for the Islanders
UNIONDALE, N.Y. (AP) — The New York Islanders have announced that the team is being sold to a former Washington Capitals co-owner and a London-based investor. The team says a group led by former Capitals co-owner Jon Ledecky and investor Scott Malkin has reached an agreement to buy a “substantial” minority interest in the team.
The team says under the agreement, current owner Charles Wang will continue as majority stockholder for two years. At that point, ownership will transfer to the Ledecky-Malkin group.