Good Morning, Islanders Country.
There was a time when nobody could figure out what the Islanders were worth because nobody knew where they'd play.
Remember that?
The Lighthouse Project. Kansas City rumors. Brooklyn. Nassau Coliseum, with the low ceiling, the bathrooms, and all its wonderful imperfections. Barclays Center with the SUV in the corner and obstructed views.
And now?
Three billion dollars. THREE BILLION DOLLARS!
That’s the valuation attached to a proposed sale of roughly 15% of the Islanders to a group of investors, according to Sportico. The deal still requires NHL approval, and Scott Malkin would remain the controlling owner.
Malkin and Jon Ledecky bought the franchise in 2014 for $485 million.
Do the math.
In a little more than a decade, an organization once defined by uncertainty has become one of the NHL’s multibillion-dollar properties. UBS Arena changed everything. Belmont gave the Islanders permanence. The surrounding development gave ownership something far more valuable than a hockey building occupied 42 nights a year. Even since 2023, when a minority investment reportedly valued the franchise at $1.75 billion, the number has nearly doubled.
Which makes the timing almost perfect.
Because while the business has never looked healthier, the hockey team is very much in between things.
Not rebuilding. Not contending. Transitioning.
The building is settled. The ownership is settled.
The franchise value certainly is settled.
Now they just have to figure out the hockey team, which, compared to what else had to happen over the last decade, should be the easy part.
Let’s dive in.
On The Rise 📈
The Islanders have agreed to sell approximately 15% of the franchise to a group of investors in a transaction that values the club at $3 billion, according to Sportico. Venture-capital investor David Shuman had already been announced as a new investor, and one participant reportedly plans to purchase roughly 10%. The deal remains subject to NHL approval and would not change control of the franchise, with Scott Malkin remaining the controlling owner.
The eye-popping part is the trajectory.
Malkin and Jon Ledecky agreed to buy the Islanders for $485 million in 2014. Sportico valued the club at $1.93 billion last year, while an earlier 2023 minority investment reportedly came at a $1.75 billion valuation.
What has happened off the ice is unquestionably one of the greatest turnarounds in franchise history. UBS Arena gave the organization the permanent home it spent decades chasing, while the Belmont development made the Islanders part of a much larger entertainment property.
Two straight playoff misses haven’t stopped the business from soaring.
