Nelson Peltz 'Kicking Tires' on Potential Islanders Purchase
"Peltz has been kicking tires around the Islanders on and off for about a year, looking to see if he can get them cheap," a second NHL source told FanHouse. "It's tough right now to see anything coming of it."
In a live chat on Monday on espn.com, Pierre LeBrun said his "Hockey Night in Canada" colleague (and former Islanders goaltender) Glenn Healy had an item about Peltz's interest in the team, but the information did not make the broadcast.
A spokesperson for Nelson Peltz said, "We have no comment" when asked to verify the report.
The Brooklyn-born Peltz is the former owner of Snapple and is currently the CEO of Trian Fund Management and a board director of the Wendy's/Arby's group. His financial worth has been estimated at over $1 billion and this year Forbes ranked him the 880th richest person in the world. The 67-year-old Peltz owns homes in Bedford, NY, Palm Beach and France.
Islanders owner Charles Wang, the former chairman of Computer Associates, is said to have lost between $15-25 million a season since purchasing the franchise in April, 2000 for a reported $195 million. His inability to strike a deal with local politicians for an arena development is one of the biggest reasons why the Islanders have lost so much money. While the last-place Islanders continue to play in the out-dated Nassau Veterans Memorial Coliseum, which opened in 1972, prospective owners have not lined up to buy the team. Wang has also never said that his team is for sale.
According to sources, Healy's report is correct. Peltz, known as "a takeover artist," has interest, but at his price. A formal offer from Peltz to Wang for the Islanders does not appear to be imminent.