This story is only about ten minutes old, but per Newsday's Arthur Staple, Islanders' owner Charles Wang has agreed to sell the team to Johnathan Ledecky and investor Scott Malkin. Ledecky and Malkin will hold a minority interest for two years and then they will become the majority owners of the team.

Johnathan Ledecky is the former co-owner of the Washington Capitals. The sale of the team must be approved by the NHL Board of Governors. Terms of the sale have not been disclosed as of yet. When more details emerge about this sale I will have a fully updated blog.

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