Thursday, October 23, 2014
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Main Line investor may pay $225M+ for NHL Islanders: report

Barroway looked at the NJ Devils last year

Main Line investor may pay $225M+ for NHL Islanders: report

The Islanders´ Anders Lee (27) celebrates a goal during the third period of an NHL hockey game against the Toronto Maple Leafs Thursday, Feb. 27, 2014, in Uniondale, N.Y. The Islanders won the game 5-4 in overtime. (Frank Franklin II/AP)
The Islanders' Anders Lee (27) celebrates a goal during the third period of an NHL hockey game against the Toronto Maple Leafs Thursday, Feb. 27, 2014, in Uniondale, N.Y. The Islanders won the game 5-4 in overtime. (Frank Franklin II/AP)

New York Islanders owner "Charles Wang is in talks to sell the money-losing NHL franchise to Philadelphia lawyer Andrew Barroway for $225 million, plus another $75 million if the Islanders hit certain revenue targets," reports the New York Post here.   Barroway earlier had headed a group that looked into buying the rival NJ Devils last year, reported the Star-Ledger here.

Barroway, a Rutgers and Penn Law grad, spent most of the 1990s and 2000s at the class-action litigation firm formerly know as Barroway, Topaz, Kessler, Meltzer & Check, LLP, King of Prussia, before joining Merion Investment Management LP (corrected), a buyout investment firm.  He didn't immediately respond to inquiries.

"There has been limited interest in a team that lost more than $10 million in a single season and has among the lowest attendance in the league," the Post noted. "But this time could be different because of a revenue guarantee from Barclays Center, where the Islanders are set to start playing in 2015. In October 2012, the Islanders inked a long-term deal to move the team from Nassau County to Brooklyn."

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PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

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