Ex-Isle LaFontaine contacted by investors to extend feeler to Wang | Bob's Blitz

Ex-Isle LaFontaine contacted by investors to extend feeler to Wang

Ex-New York Islanders star Pat LaFontaine, who is not in the team's Hall of Fame and has not been invited back since he resigned in 2006, has been contacted by 'European investors' about anteing up and purchasing the NHL team with a $300 million dollar price tag despite yearly losses of $40M. The NY Post reports:

LaFontaine, who starred for the Islanders for eight seasons and is in the top six in goals and points in team history, is intrigued by the opportunity and may look to put together some sort of bid, sources said.

Islanders owner Charles Wang, who is seeking a new arena and has vowed not to play a single game at the aged Nassau Coliseum beyond the July 2015 end of his lease, has quietly let it be known that he is willing to sell the franchise if the price is right, sources close to the NHL said.

Unfortunately for LaFontaine, who still lives on Long Island and is active in charities there, that price is said to be a sky-high $300 million.

Wang bought the franchise in 2000 for $130 million. It’s now losing $40 million a year, sources said. Forbes last year valued the Islanders at $149 million.

Taxpayers have already said nay to the whole new $400 million dollar arena deal.

But wait, there's more:

At the same time, former Islander greats Bob Nystrom and Denis Potvin are advising one Long Island developer on a plan to keep the team right where it is.

The two are working with Ed Blumenfeld, one of three finalists to become “master developer” of the Coliseum site, which would include a new arena.

Because when one thinks Islander financial genius, one thinks Ken Baumgartner Nystrom and Potvin.

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