CA Execs Buy NHL's New York Islanders - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


CA Execs Buy NHL's New York Islanders

Computer Associates chairman and CEO Charles Wang and president and chief operating officer Sanjay Kumar were introduced today as the new co-owners of the National Hockey League's New York Islanders.

The CA executives declined to say how much they paid for the struggling franchise, but published reports have put the price tag at about $190 million. The Islanders, who won four consecutive NHL titles in the early 1980s, finished 26th in the 28-team league this season and were last in the NHL in attendance. They haven't made the 16-team playoffs since 1994 and have had four ownership groups operating the franchise in the past decade.

"It wasn't the biggest deal we've ever made, but it took the longest," said Kumar, who added both he and Wang "will keep our day jobs" running CA.

Wang and Kumar said the sale has been approved by Nassau County, which operates the Nassau Coliseum, where the Islanders play, and by SMG, the management company that operates the 28-year-old Coliseum. Neither man would discuss plans for a new arena to replace the outmoded Coliseum. The sale must still be approved by the NHL, a process that should be completed in six to eight weeks.

Owning the Islanders will help CA "in terms of recruiting people and the quality of life on Long Island," Wang said. "No major metropolitan area has enjoyed expansion without professional sports. Long Island is our headquarters. How do you attract people if you have no museums? We think this is just as important."

As to what kind of owners they'll be, Wang said he and Kumar "aren't hockey people. Our job as businesspeople is to solve problems. That's where we can add value. We're going to make this a winning, successful franchise."

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2021 State of ITOps and SecOps Report
2021 State of ITOps and SecOps Report
This new report from InformationWeek explores what we've learned over the past year, critical trends around ITOps and SecOps, and where leaders are focusing their time and efforts to support a growing digital economy. Download it today!
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

Remote Work Tops SF, NYC for Most High-Paying Job Openings
Jessica Davis, Senior Editor, Enterprise Apps,  7/20/2021
Blockchain Gets Real Across Industries
Lisa Morgan, Freelance Writer,  7/22/2021
Seeking a Competitive Edge vs. Chasing Savings in the Cloud
Joao-Pierre S. Ruth, Senior Writer,  7/19/2021
Register for InformationWeek Newsletters
Current Issue
Monitoring Critical Cloud Workloads Report
In this report, our experts will discuss how to advance your ability to monitor critical workloads as they move about the various cloud platforms in your company.
White Papers
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll