Spano Buys Islanders for $165 Million

Associated Press

Texas businessman John Spano became the New York Islanders’ new majority owner, completing a $165 million purchase of 90% of the franchise from owner John Pickett.

Spano, a 32-year-old Manhattan native, paid about $80 million for the 25-year-old franchise and about $85 million for rights to an agreement with the team’s television broadcaster, Cablevision.

Spano, president of Dallas-based Bison Group, said he won’t attempt to move the team, which has struggled financially in recent years.



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