Islanders Selling Stakes in NHL Team at $3 Billion Valuation

The New York Islanders are selling approximately 15% of the NHL franchise to a group of investors at a $3 billion valuation, according to sources familiar with the deal. The sale, which is still subject to NHL approval, includes venture capital investor David Shuman as a confirmed new investor, with one unnamed party set to own up to 10% of the team. Controlling owner Scott Malkin and Jon Ledecky originally purchased the Islanders in 2014 for $485 million, with the team's value surging significantly following the opening of UBS Arena.