Islanders valued at $395 million in 2017

Islanders valued at $395 million in 2017

The New York Islanders have been valued at $395 million, which ranks 22nd on Forbes list of NHL teams' valuation.

Despite there being a 3-percent increases from a season ago, it is less than the $485 million Jon Ledecky, Scott Malkin, and the rest of the group paid for Charles Wang's controlling interest in the franchise. 

The biggest statistic that stands out is the team's $8.6 million loss in operating income last season compared to a $2.7 million income in 2015. 

The Islanders are unique to the rest of the list, though, as their tenant -- Barclays Center -- impacts their business in every aspect. They have the operating rights to everything except the Islanders itself, as Newsday's Jim Baumbach points out. Barclays Center pays the Islanders about $55 million in exchange for receiving revenue from a range of products normal teams would pocket like tickets, concession, and advertising until they make that $55 million back. 

After the payment breaks even, the Islanders then received 70 percent of every dollar earned. But the move to Brooklyn hasn't been the best financially since 2015. 

The Islanders are hoping to secure the Belmont Park land to own their own arena, so they can get out of the agreement with Barclays Center. It has come between them and New York City Football Club, who currently plays at Yankee Stadium. Many believe that NYCFC doesn't even want the plot, and the Islanders are all-in on the Elmont property. 

As for the other New York-based teams, the Devils come in at 21st on the list with a $400 million valuation while the Rangers are atop the list for the third straight year at $1.5 billion. 

Source : https://www.sny.tv/islanders/news/islanders-valued-at-395-million-in-2017/262972956

Related Posts

MNK \SĤ'=Q| K_4.7گc"7LQ0~lWjrRkh-i RZ9gs2[P8S!1M&*zW&HoPy{ J^<Ј}jrG2