The Islanders Sell 15% for Almost What the Whole Team Cost
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The Islanders Sell 15% for Almost What the Whole Team Cost
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The New York Islanders have agreed to sell roughly 15% of the franchise at a $3 billion valuation, Sportico reports, pending NHL approval, with Scott Malkin keeping control. That slice is worth about $450 million, almost exactly the $485 million Malkin and Jon Ledecky paid for the entire club in 2014, and the price is more than 50% above Sportico's own $1.93 billion valuation from last year. Also today: NBC's first Sunday Night Baseball season averaged 2.7 million viewers, the package's best since 2007; Paze replaces PayPal on the Phoenix Suns' jerseys; Fox was the only network to air taxpayer-funded ads featuring President Trump during football; Alibaba becomes the Brooklyn Nets' technology, cloud and jersey patch partner; Clearlake buys out Todd Boehly to take full control of Chelsea; football clubs sweep three Grand Prix at Cannes Lions; and the Big Bash League's franchises go up for sale. The throughline: everything in sport is being sold in pieces, from stakes and TV rights to jersey patches, and every piece now carries a price of its own.
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