The Islanders are adding minority ownership yet again.
The club agreed to sell roughly 15 percent of its shares at a $3 billion valuation, according to a Sportico report Monday morning. This comes just four weeks after the Islanders announced David Shuman as a minority owner. The Islanders also added two minority owners in 2023: former NHL executive John Collins and European private equity executive Oliver Haarmann.
An Islanders spokesman declined comment. The identities of the new investors are not known, and the sale is subject to NHL approval.
The $3 billion valuation — more than six times the $485 million for which Scott Malkin and Jon Ledecky bought the Islanders in 2014 — is the headline news. Haarman’s 10 percent stake, acquired just three years ago, was bought at a $1.75 billion valuation.
The area around UBS Arena, which opened in 2021, continues to be developed, with a renovated Belmont Park opening this month. The Islanders will host the All-Star Game in February, their first leaguewide event at the new building.
The shopping village near UBS — Malkin’s primary business is in similar luxury shopping villages, mainly around Europe — is still very much a work in progress, but continues to be built up after a soft launch two years ago.
The 67-year-old remains the Islanders’ controlling owner, but is based in the United Kingdom and is only seen around the team a few times per year. Ledecky, by design, is the face of the ownership group and a frequent face both at games and community events.
The Islanders open the season on Wednesday in Toronto against the Maple Leafs.
