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March 28, 2014 | 2:07pm ET
Wang looking to sell Isles
TheFourthPeriod.com

New York Islanders owner Charles Wang is looking to sell his majority stake in the franchise and is in talks with potential buyers.

TSN Hockey Insider Bob McKenzie first broke the news late Thursday night via Twitter.

"NYI owner Charles Wang in talks to sell majority stake in NHL franchise," McKenzie tweeted. "Nothing done yet, no telling if it gets done, but talks underway."

Wang has been the Islanders' majority stakeholder since 2004.

It has been reported that the Islanders lose approximately $10 million per season, though the club is moving to the Barclays Center in Brooklyn for the start of the 2015-16 season.

Chris Botta of the Sports Business Journal followed up on McKenzie's initial report, and added that while a "deal (is) far from complete," Wang was "furious" over news leaking that he's looking to sell his stake.

According to Botta, Wang is looking for $300 million in exchange for his stake in the club.


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