Featured, NHL NEWS
New York Islanders Owner Regrets Purchasing Team
Published by Kevin van Steendelaar on May 3, 2009
Article Source: Bleacher Report - NHL
In an article published Saturday, Newsday reported that Wang has spent $208.8 million—an average of $23 million per year—to keep the team operating since 2000.
Wang also spent $74.2 million when he and Sanjay Kumar bought the club and took over responsibility for its estimated $97 million in liabilities.
The NHL's deputy commissioner, William Daly, confirmed the numbers, "Yes, we’re aware the Islanders lose money, a significant amount of money. And it goes back to the team’s need for a new arena.”
Wang, 64, said he initially assumed Nassau ...
Read Complete Article at Bleacher Report - NHL
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