Report: Islanders selling 15% of franchise to investors at $3 billion valuation
An aerial view of the opening faceoff when the Islanders opened UBS Arena on Nov. 20, 2021. Credit: Getty Images/Bruce Bennett
The Islanders’ ownership group continues to grow as the value of the franchise continues its significant increase.
Sportico reported on Monday the Islanders had reached an agreement to sell roughly 15% of the franchise to “a handful of investors” based on a $3 billion valuation. Sportico's report said that while the other investors were not immediately known, one of the investors would own up to 10% of the team. The investment is still subject to NHL approval.
The team declined to comment on the report.
The NHL will have to approve any further investments.
It was only on Aug. 31 that the Islanders announced David Shuman, founder of Lateralus Holdings, had agreed to acquire a minority stake in the team as a sixth investor. The team said then there would be no changes to the team’s day-to-day operations.
A group led by principal owner Scott Malkin who, along with co-owners Jon Ledecky and Dewey Shay, were approved to assume an 85% share in the Islanders from the late Charles Wang on June 22, 2016, after initially agreeing to a $485 million purchase in 2014.
Malkin's group bought the remaining 15% from Wang's estate at the end of 2020. That group now also includes former NHL executive John Collins and financier Oliver Haarmann, who both joined in 2023.
The Islanders were valued at $2.1 billion in Forbes' 2025 NHL valuations, ranking 15th in the league.
The franchise’s value has grown with the opening of UBS Arena in 2021 and the facility will host this season’s All-Star Weekend in February. The addition of 2025 first overall pick Matthew Schaefer, who won the Calder Trophy as the league’s top rookie in a unanimous vote and has a very marketable personality, has also raised the team’s brand recognition.
Andrew Gross joined Newsday in 2018 to cover the Islanders. He began reporting on the NHL in 2003 and has previously covered the Rangers and Devils. Other assignments have included the Jets, St. John’s and MLB.
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