Saturday, April 26, 2014
Isles: Good News, Bad News
Let’s start with the ‘Good News’ Department. Remember Jake Lotocki from Winnipeg? The kid who was bullied at a game for being an Isles fan? Well, John Tavares and the Islanders were not the only ones to reach out to him.
HockeyBuzz.com - Dee Karl - John Tavares Comes Through for 11-Year-Old
The good people of the NY Islanders Booster Club put out a call to members to round up Islanders merchandise and cherished items to send in a care package for Jake. Perhaps things he could have never imagined being able to get in Winnipeg. As usual, the Booster Club delivered BIG time and the care package was sent to Jake.
While their main focus is, of course, the Islanders, they will have a table at this year’s draft party and since it will be the last year the Isles are on Long Island, it may be a very good time to join. If you do, you’ll have special access to players who regularly attend the meetings which are held at the Long Island Marriott. You can ask questions, get items signed and be able to hear unfiltered stories from behind the scenes.
If you haven’t checked them out, you should. You won’t be disappointed.
In the “Bad News” Department comes the news that ex-Islanders executive and partial owner Stephen Walsh plead guilty to investment fraud yesterday. Walsh and his Partner Paul Greenwood were part of a group that bought 50% of the Isles in 1991 and sold their stake to Charles Wang in 2000. Money men. Dirty Money Men. These fraud charges have been pending since 2009 and his partner pleaded guilty in 2010. So I suppose for the last four years he’s been hiding the millions he still has left from his ill-gotten gains.
And so the sale drama continues as Charles Wang released a memo to potential buyers and the NHL regarding the finances and estimated worth of the team. Mr. Wang is looking to divest himself of 75% of the team with a five year option on the remaining 25%. Let’s just say some of it seems like creative accounting.
However, the stated operating loss for the 2013-2014 season is listed as only $4.8 million. That is a big difference from the reported $20 million per year that the club has lost. It seems that the NHL has kicked in some $15 million.
Do they have any extra laying around they can send me?