: News Article:
Wang in preliminary talks to sell team!
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02-16-2013, 03:35 PM
Join Date: May 2003
Location: Beach & Mtn & Island
Originally Posted by
Interesting insight. While I think this story may be true, wouldn't it be more beneficial for Wang to sell the Isles to the Barclays owners AFTER 2015 at a higher price?
Yes and no. The isles were not marketable due to the arena situation. Remember, Bettman does not/did not want the Isles relocated. Without the Barclays deal and the ongoing Nassau saga, the team was stuck in the mud.
By signing the Barclays deal NOW and stating it was bullet proof (or whatever term he used) was a signal to the market - the arena situation is no longer an issue to sell the team. Add to that, he just plopped the team in NYC which is hugely attractive to a purchaser.
By selling now, Wang avoids that loan that is due and pretty much solidifies his "legacy" as the man that "saved the Isles" and kept them in NY. He also gets the valuation of having the Barclays deal added to the bottom line.
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