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Report: Wang values Isles at $370 million, offering to sell 75 percent

Mayor Bloomberg And Islanders Owner Announce Plan For Team To Play In Brooklyn

NEW YORK, NY - OCTOBER 24: New York Islanders owner Charles Wang announces the team’s move to the Barclay Center in 2015 at a press conference at the Barclays Center on October 24, 2012 in the Brooklyn borough of New York City. (Photo by Bruce Bennett/Getty Images)

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Charles Wang is offering to sell 75 percent of the New York Islanders, according to a report in SportsBusiness Journal.

Wang has apparently placed a $370 million value on the team, so any buyer will need to come up with $277.5 million to grab three quarters. There’s also a “five-year option on the other 25 percent,” per the SBJ report.

Click on the link for more details -- e.g. the Isles supposedly took in $22 million in ticket revenue this season, which based on total attendance (604,362) works out to around $36 per ticket.

Wang bought the Islanders in 2000 for just under $200 million, but he’s lost many millions more operating the club.

In its most recent valuations, Forbes pegged the Brooklyn-bound Isles’ worth at $195 million.

Related: Additional suitors for Isles emerge, per report