HFBoards

Go Back   HFBoards > NHL Eastern Conference > Metropolitan Division > New York Islanders
Mobile Hockey's Future Become a Sponsor Site Rules Support Forum vBookie Page 2
Notices

Can Wang Afford to Run Islanders??

Reply
 
Thread Tools
Old
12-07-2010, 05:28 PM
  #1
Drivefor5
Registered User
 
Drivefor5's Avatar
 
Join Date: Jul 2010
Location: NJ
Country: United States
Posts: 221
vCash: 500
Can Wang Afford to Run Islanders??

After reading this article and seeing the holes in the organization from the front office to the product on the ice, I am wondering if the Islanders troubles are not due to financial concerns from the owner?

http://www.itbusinessedge.com/cm/blo...rved/?cs=44601

Drivefor5 is offline   Reply With Quote
Old
12-07-2010, 05:43 PM
  #2
BlackDog13
Registered User
 
BlackDog13's Avatar
 
Join Date: Jun 2010
Location: PA
Country: United States
Posts: 471
vCash: 500
Smoke screen, IMO.

BlackDog13 is offline   Reply With Quote
Old
12-07-2010, 05:49 PM
  #3
redbull
game on
 
redbull's Avatar
 
Join Date: Mar 2008
Country: Canada
Posts: 9,950
vCash: 500
Quote:
Originally Posted by Drivefor5 View Post
After reading this article and seeing the holes in the organization from the front office to the product on the ice, I am wondering if the Islanders troubles are not due to financial concerns from the owner?

http://www.itbusinessedge.com/cm/blo...rved/?cs=44601
As a human, I don't wish harm on anyone, financial or otherwise. I also don't feel sorry for people who live the high-life and crash hard - there are far more things to feel about in this world (not meant for a hockey message board).

As a marketer, it's astonishing how an asset/brand can be destroyed simply by poor customer service. It's probably very true that the team loses money and cannot afford to spend on a proper product. But it doesn't cost much more to hire a competent coach (well, we had one in Gordon), hire a competent GM and empower him/her to make on-ice decisions, to treat the fans and media as allies and not enemies, to have proper PR - if not for the players/fans, at the VERY LEAST to protect your asset.

As a hockey fan, what Wang is doing to this franchise is a disgrace and I hope the NHL revokes the franchise or forces some kind of sale. Once Wang is no longer the owner of my favourite hockey team, frankly, I will not care what happens to him, his fortunes, whatever successes/demons lie ahead.

redbull is offline   Reply With Quote
Old
12-07-2010, 06:00 PM
  #4
Strummergas
Registered User
 
Strummergas's Avatar
 
Join Date: Sep 2006
Location: Brooklyn, NY
Country: United States
Posts: 4,634
vCash: 500
If the lawsuit for $500 million has indeed been filed, it leads me to believe that he is indeed stripping away the excess costs of running the organization in order to make the sale of the franchise more appealing to prospective buyers. This can be a blessing as it would mean that Wang would be gone. On the other hand, it could be the death knell for the team playing in this area as a prospective buyer might want to relocate their new acquisition.

Strummergas is offline   Reply With Quote
Old
12-07-2010, 06:03 PM
  #5
TheBoss22
Registered User
 
TheBoss22's Avatar
 
Join Date: Apr 2007
Location: Planet Earth
Posts: 1,765
vCash: 500
Blogger doesn't realize that Wang now makes money from Parking so Wang is once again a Gazzilionairre!!!

BTW: Redbull - Your current and last avatar are AWESOME!!

TheBoss22 is offline   Reply With Quote
Old
12-07-2010, 06:27 PM
  #6
Augscura
Registered User
 
Augscura's Avatar
 
Join Date: Oct 2009
Location: Prince George, BC
Country: Canada
Posts: 2,752
vCash: 500
Quote:
Originally Posted by Strummergas View Post
If the lawsuit for $500 million has indeed been filed, it leads me to believe that he is indeed stripping away the excess costs of running the organization in order to make the sale of the franchise more appealing to prospective buyers. This can be a blessing as it would mean that Wang would be gone. On the other hand, it could be the death knell for the team playing in this area as a prospective buyer might want to relocate their new acquisition.
Gary Bettman does not want to relocate any teams. The NHL would take over the team until they find a buyer in the area. If there is no buyer to come forth then we may be looking at the worst case scenario.

Augscura is offline   Reply With Quote
Old
12-07-2010, 06:35 PM
  #7
TheBoss22
Registered User
 
TheBoss22's Avatar
 
Join Date: Apr 2007
Location: Planet Earth
Posts: 1,765
vCash: 500
Quote:
Originally Posted by Augscura View Post
Gary Bettman does not want to relocate any teams. The NHL would take over the team until they find a buyer in the area. If there is no buyer to come forth then we may be looking at the worst case scenario.
Don't worry, I'm sure there will be an Islander messageboard movement to buy the team, as they would get money from popcorn sales / parking / and everyone will get season tickets at half off.

Plus the Cablevision deal will cover any player expenses until 2030 so the Isles will actually be the bestest investment of all time.



TheBoss22 is offline   Reply With Quote
Old
12-07-2010, 06:37 PM
  #8
BillD
Registered User
 
Join Date: Feb 2004
Posts: 7,463
vCash: 500
Wang has other sources of revenue.
He is one of the largest real estate holders in Nassau County, if not the single largest. His development company is pretty active in commercial development.
I would have to look at the filings for Nuelion to see if the reported losses are cash losses (real) or book losses (accounting).

BillD is online now   Reply With Quote
Old
12-07-2010, 09:32 PM
  #9
MTK
Registered User
 
MTK's Avatar
 
Join Date: Sep 2007
Location: West Islip
Country: Iceland
Posts: 2,299
vCash: 500
Quote:
Originally Posted by TheBoss22 View Post
Blogger doesn't realize that Wang now makes money from Parking so Wang is once again a Gazzilionairre!!!

BTW: Redbull - Your current and last avatar are AWESOME!!
Alot of people do not realize Wang now makes money from the following:

1-Parking

2-Cable Deal

3-Concessions

4-Tickets ( He sold a couple sets of tickets to scalpers for $1 million a set)

5-Islander Enteratainment (The Islanders/Wang choose what bands play and what acts come to the NVMC)

6- Sponsers like Canon etc .

Wang doesn't understand if we are winning, he is making more money on each of the things I mentioned.

Hopefully Wang is working on selling the team. I do believe the
NYI will stay on Long Island if he sells

They are in a big market and there is opportunity to make more money than most areas and attract more new fans than other places There are a lot of easy impovements to make the Islanders more profitable. As well as the new lease which makes the Islanders worth more than last year. The cable deal itself helps a good amount as well.

NYI moved up 2 spots on the Forbes list from 09 to 10 and that is being 5th worse in the league. I wouldn't be surprised if they moved up a spot or two next year since the lease would be in effect for a full year.

Since Wang didn't accept Nassau's help with renovationg the NVMC years ago because he wanted his city, the new owner would have a better opportunity to renovate and maybe add some restaurants outside as well some other things. With help from the town.


Last edited by MTK: 12-07-2010 at 09:57 PM.
MTK is offline   Reply With Quote
Old
12-07-2010, 11:45 PM
  #10
TheBoss22
Registered User
 
TheBoss22's Avatar
 
Join Date: Apr 2007
Location: Planet Earth
Posts: 1,765
vCash: 500
Quote:
Originally Posted by SUNRISE27EMTK View Post
Since Wang didn't accept Nassau's help with renovationg the NVMC years ago because he wanted his city, the new owner would have a better opportunity to renovate and maybe add some restaurants outside as well some other things. With help from the town.
When was this? I always heard Suozzi/Nassau say they had NO money to help renovate the old barn. Plus they wanted the hub and have Wang pay for everything while Nassau gets the tax revenue.

TheBoss22 is offline   Reply With Quote
Old
12-07-2010, 11:48 PM
  #11
periferal
Registered User
 
periferal's Avatar
 
Join Date: Jul 2007
Posts: 4,465
vCash: 500
Quote:
Originally Posted by Strummergas View Post
If the lawsuit for $500 million has indeed been filed, it leads me to believe that he is indeed stripping away the excess costs of running the organization in order to make the sale of the franchise more appealing to prospective buyers. This can be a blessing as it would mean that Wang would be gone. On the other hand, it could be the death knell for the team playing in this area as a prospective buyer might want to relocate their new acquisition.


I say without hesitation that I would take the risk of the Isles moving if it meant that Wang was permanently disassociated from the franchise.

periferal is offline   Reply With Quote
Old
12-07-2010, 11:58 PM
  #12
Isles727
 
Join Date: Nov 2010
Posts: 29
vCash: 500
I think Wang is definitely having financial issues. Apparently he sold some land in Planview. It could be because of liquidity issues. Who knows. I think the situation that will be interesting to watch is how the Islanders reach the salary floor next year. The cap will probably go up another 2 to 3 million so that means the floor will as well. Roloson, Weight wont be back and I don't think Moulson will either. Weight will retire and with a thin UFA, Moulson will get attention from a lot of team who could get 30 goal scorer at affordable rate. That would leave the Islanders about $10 million under the floor. Yashin's buyout money drops $2 million so we are talking about $12 million under floor. I don't see Wang wanting to spend that money on the team as he has run the team into the ground, and who would want to come here anyway. This is why I think the league will have to step in because I think caccophony bonuses will used to try and reach the floor.

Isles727 is offline   Reply With Quote
Old
12-08-2010, 03:04 AM
  #13
OlTimeHockey
Registered User
 
OlTimeHockey's Avatar
 
Join Date: Dec 2003
Location: home
Country: China
Posts: 15,940
vCash: 500
Quote:
Originally Posted by periferal View Post
I say without hesitation that I would take the risk of the Isles moving if it meant that Wang was permanently disassociated from the franchise.
I hate saying this, but having not gone to a game since 2001 and refusing to ever spend on Wang's folly again.....I could watch them on DirecTV like I do now and be content.

I'd just have to pay airfare to see them live, but I get a vacation out of it (hopefully not to the exotic locale and metropolitan mystique that Kansas City offers.....though the ribs are awesome!).

OlTimeHockey is offline   Reply With Quote
Old
12-08-2010, 09:19 AM
  #14
TXNYI
Registered User
 
Join Date: Dec 2005
Posts: 282
vCash: 500
This quote from the 2007 NY Times article on CA that the article posted above references, is very telling in 2010:
Quote:
Mr. Wang created a “culture of fear” at Computer Associates — now called CA — and deliberately put inexperienced executives in senior positions so that he would have more control, according to the report. He discouraged executives from meeting with each other and arbitrarily fired managers or employees who disagreed with him.

TXNYI is offline   Reply With Quote
Old
12-08-2010, 10:09 AM
  #15
Bunk Moreland
Moderator
 
Bunk Moreland's Avatar
 
Join Date: Mar 2010
Location: Long Island
Country: United States
Posts: 13,383
vCash: 50
Quote:
Originally Posted by TXNYI View Post
This quote from the 2007 NY Times article on CA that the article posted above references, is very telling in 2010:
Which is exactly how he runs the Islanders.

Bunk Moreland is online now   Reply With Quote
Old
12-08-2010, 10:14 AM
  #16
MTK
Registered User
 
MTK's Avatar
 
Join Date: Sep 2007
Location: West Islip
Country: Iceland
Posts: 2,299
vCash: 500
Quote:
Originally Posted by Isles727 View Post
I think Wang is definitely having financial issues. Apparently he sold some land in Planview. It could be because of liquidity issues. Who knows. I think the situation that will be interesting to watch is how the Islanders reach the salary floor next year. The cap will probably go up another 2 to 3 million so that means the floor will as well. Roloson, Weight wont be back and I don't think Moulson will either. Weight will retire and with a thin UFA, Moulson will get attention from a lot of team who could get 30 goal scorer at affordable rate. That would leave the Islanders about $10 million under the floor. Yashin's buyout money drops $2 million so we are talking about $12 million under floor. I don't see Wang wanting to spend that money on the team as he has run the team into the ground, and who would want to come here anyway. This is why I think the league will have to step in because I think caccophony bonuses will used to try and reach the floor.
Wang didn't sell the land. He handed over the "rights" to be build to another guy who has success building on Long Island. As well majority of people dislike Wang on Long Island which is why he gets denied time and time again on his real estate projects.

http://www.newsday.com/long-island/n...land-1.2406068

Quote:
Originally Posted by periferal View Post
I say without hesitation that I would take the risk of the Isles moving if it meant that Wang was permanently disassociated from the franchise.
100% agree, I look forward to that risk. If Wang is gone and we get a somewhat decent owner who is in for the team and to make money from the NHL team itself. Sign me up.

If only Spano had money

MTK is offline   Reply With Quote
Old
12-08-2010, 10:48 AM
  #17
kasper11
Registered User
 
Join Date: Feb 2002
Location: New York
Posts: 6,821
vCash: 500
Quote:
Originally Posted by Drivefor5 View Post
After reading this article and seeing the holes in the organization from the front office to the product on the ice, I am wondering if the Islanders troubles are not due to financial concerns from the owner?

http://www.itbusinessedge.com/cm/blo...rved/?cs=44601
This article doesn't really make a whole lot of sense...

1) It places an emphasis on the lawsuit "looming over" Wang. But the lawsuit was never filed. Depending on when CA paid the settlement money, the statute of limitations has either expired or is about to. So this is not an issue, or if it still is, it soon won't be.

2) Ok, so his company, NeuLion, is losing money. But is he? After his initial investment, is he putting any more money in? How much are he and his wife receiving in compensation from this company as it loses money?

3) The Isles have lost money, but according to Forbes the losses have decreased to approximately $4.5M. Plus, does this include the revenue from non-hockey events at NVMC that Wang receives?

kasper11 is offline   Reply With Quote
Old
12-08-2010, 11:02 AM
  #18
Bones45
Registered User
 
Join Date: Dec 2005
Location: Low Taxville
Posts: 5,190
vCash: 500
Quote:
Originally Posted by TheBoss22 View Post
When was this? I always heard Suozzi/Nassau say they had NO money to help renovate the old barn. Plus they wanted the hub and have Wang pay for everything while Nassau gets the tax revenue.
I think Kate Murray mentioned that if he just wanted to re-do the arena, it would be done already. She agrees that it badly needs to be re-furbed (at the very least).

Wangs whole thing is that he doesnt want to do "just" that. He wants all or nothing.

and therein lies the problem (one of the many)

Bones45 is online now   Reply With Quote
Old
12-08-2010, 11:03 AM
  #19
HyeDray
HFB Partner
 
HyeDray's Avatar
 
Join Date: Jul 2006
Location: New Hyde Park, NY
Country: United States
Posts: 1,896
vCash: 500
I know the losing itself is a big reason for the coverage, but is anyone else seeing a connection with the numerous negative articles about the Islanders and Wang and the pulling of Botta's credits?

I think some of it is Botta "spreading the word" about what happened, but a lot of it is the press itself.

In this country, messing with the "Fourth Estate" is a cardinal sin. The choice by the Isles to pull those creds is like turning on a light and watching all the roaches running for cover.....If they thought that it would distract from the on-ice and Light House problems they are having, then they really misunderstand the entire concept of public relations and spin.

P.R. 101 — Don't try to coddle the media, but don't treat them badly either. If you make an enemy of the media, they will eat you alive! That is what has been happening since Botta's creds were pulled.

It is not that Botta is the be-all/end-all. It is an attack on the freedom of the media in the view of the media. Big mistake!!!!!

HyeDray is offline   Reply With Quote
Old
12-08-2010, 11:37 AM
  #20
Moosie
Registered User
 
Moosie's Avatar
 
Join Date: Oct 2003
Location: Indianapolis
Posts: 2,046
vCash: 500
It really was stupid of the Islanders to deny Botta a credential. He represents free publicity for the team. Remember when he was known as Baghad Botta? He spewed the company line for 20+ years, and even since Point Blank came about, he's pretty much defended moves by Garth Snow.

Moosie is offline   Reply With Quote
Old
12-08-2010, 11:59 AM
  #21
MTK
Registered User
 
MTK's Avatar
 
Join Date: Sep 2007
Location: West Islip
Country: Iceland
Posts: 2,299
vCash: 500
Quote:
Originally Posted by TheBoss22 View Post
When was this? I always heard Suozzi/Nassau say they had NO money to help renovate the old barn. Plus they wanted the hub and have Wang pay for everything while Nassau gets the tax revenue.
I am looking for the article now but since there is so much BS on the lighthouse there is a lot to go through. I did happen to find some more information on Wang and bankruptcy possibilities.

MTK is offline   Reply With Quote
Old
12-08-2010, 12:08 PM
  #22
redbull
game on
 
redbull's Avatar
 
Join Date: Mar 2008
Country: Canada
Posts: 9,950
vCash: 500
Quote:
Originally Posted by HyeDray View Post
I know the losing itself is a big reason for the coverage, but is anyone else seeing a connection with the numerous negative articles about the Islanders and Wang and the pulling of Botta's credits?

I think some of it is Botta "spreading the word" about what happened, but a lot of it is the press itself.

In this country, messing with the "Fourth Estate" is a cardinal sin. The choice by the Isles to pull those creds is like turning on a light and watching all the roaches running for cover.....If they thought that it would distract from the on-ice and Light House problems they are having, then they really misunderstand the entire concept of public relations and spin.

P.R. 101 — Don't try to coddle the media, but don't treat them badly either. If you make an enemy of the media, they will eat you alive! That is what has been happening since Botta's creds were pulled.

It is not that Botta is the be-all/end-all. It is an attack on the freedom of the media in the view of the media. Big mistake!!!!!
very well put HyeDray. It is hard to believe the team could be so inept at everything they do. Even the simple stuff.

redbull is offline   Reply With Quote
Old
12-08-2010, 12:18 PM
  #23
Mr Wentworth
Arch Duke of Raleigh
 
Mr Wentworth's Avatar
 
Join Date: Aug 2008
Country: United States
Posts: 5,276
vCash: 500
A few things:

1) Let us assume that Wang is driving the Isles into the ground on purpose. He wants to devalue them...
2) If the $500 million lawsuit is filed, how does he driving the Isles into the ground play into that?
3) What other hidden benefits could there be from him driving the Isles into the ground?
4) Would moving the land in Plainview (another un-realized land development) be apart of Wang wanting to create more wealth in-case of the $500 million lawsuit?


It also seems that the author of the article is just enjoying Wang getting his comeuppance.

Mr Wentworth is online now   Reply With Quote
Old
12-08-2010, 12:24 PM
  #24
Pnut
Registered User
 
Pnut's Avatar
 
Join Date: May 2007
Location: w. suckic
Country: United States
Posts: 7,037
vCash: 500
Quote:
Originally Posted by Crazy Ivan View Post
It also seems that the author of the article is just enjoying Wang getting his comeuppance.
I know an ex employee of Wang that is always telling me how much he sucks.

Pnut is offline   Reply With Quote
Old
12-08-2010, 01:02 PM
  #25
TheBoss22
Registered User
 
TheBoss22's Avatar
 
Join Date: Apr 2007
Location: Planet Earth
Posts: 1,765
vCash: 500
Quote:
Originally Posted by SUNRISE27EMTK View Post
I am looking for the article now but since there is so much BS on the lighthouse there is a lot to go through. I did happen to find some more information on Wang and bankruptcy possibilities.
Did you mistakenly think about the time Brain Fart Kate sent out the mailers asking for Obama bucks in order to pay for the Barn Reno's, and was then blasted by her constituents for requesting public money to pay for it?

No worries if you don't find it.

TheBoss22 is offline   Reply With Quote
Reply

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 04:40 PM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. ©2014 All Rights Reserved.