Islanders Ownership Future
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02-14-2013, 08:17 AM
Join Date: Sep 2006
Originally Posted by
I agree... The thing I just dont understand. Why does Wang not try to offload the franchise if he actually is losing around 20 mil. Dollars pr. annum? It truly raises the question wheather he in some ways are'nt actually making a few bucks on Islanders.
This ownership must be one of the wierdest in the history of sports. The DP and Yashin contract, the Garth Snow affair, which seems highly controlled by Wang and his non-hockey buiness-entrepeneurs. I dont get what Wang's long term goal at the moment is for the Islanders. It's completely in the fog!
The truth is we do not now, nor will we ever know, how much Wang is losing if he is losing at all. The numbers thrown around about his losses come from Wang and his camp, so they are pitching the most dire situation they can, and based on how he cooked the books at CA I am positive those numbers are al made up. I believe they did this initially to gain public support for the Lighthouse Project, kind of taking a woe is me approach. I find it funny now that all that has failed and the move announced you don't hear about his losses anymore. Just one of those things that make you think.
It is completely in a fog and that's just how they want it to be. The spin doctors did their job well.
To your point, no owner would or could continue to own a franchise that loses $20M a year. There is no way.
I believe he may run at a loss but I would be surprised if it were more than a million or two annually.
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