Charles Wang reaches deal to sell Islanders to group led by Jon Ledecky, Scott Malkin

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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 Oct. 24, 2012 in the Brooklyn. (Credit: Bruce Bennett/Getty Images)

The Islanders announced today that a deal is in place to sell a “substantial minority interest” and eventually majority ownership of the team, pending league approval.

The team announced today that an agreement has been reached to sell a minority interest in the team to a group led by former Washington Capitals co-owner Jon Ledecky and investor Scott Malkin.

Ledecky and Malkin’s group...

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