Charles Wang became a part-owner of the Islanders in 2000 and has been the sole owner since 2004.
Uniondale, NY (SportsNetwork.com) -
Charles Wang has a deal in place to eventually transfer ownership of the New York Islanders to a group led by Jon Ledecky, the team announced Tuesday.
Ledecky, a former co-owner of the Washington Capitals, and London-based investor Scott Malkin reached an agreement to purchase a substantial minority interest in the team. The group will then take over majority ownership in two years.
Wang will continue as majority shareholder and governor of the Islanders during that time.