Charles Wang, former New York Islanders owner, dies at 74
Charles Wang, a expertise firm founder and former proprietor of the New York Islanders hockey group, died Sunday. He was 74.
Wang died in Oyster Bay, New York, stated his legal professional John McEntee in an emailed assertion. A explanation for dying was not disclosed.
Wang “was an entrepreneur, visionary, writer, and philanthropist however might be remembered most affectionately by those that knew him for his love of life, household, and mates,” McEntee stated in his assertion.
He purchased the Islanders in 2000 together with Sanjay Kumar, then the president of Pc Associates Worldwide, which Wang based in 1976. He later purchased out Kumar’s stake in 2004. Kumar pleaded responsible in an accounting fraud scandal at the corporate in 2006 and served a jail time period.
On the time of the Islanders buy, Wang instructed The New York Instances, “We need to make the New York Islanders the world-class sports activities franchise that our neighborhood deserves, desires and desires.”
Wang had attended just one hockey sport earlier than shopping for the group for nearly $190 million, McEntee stated.
However in 2009, he instructed Newsday he regretted shopping for the money-losing group, saying, “If I had the prospect, I would not do it once more.”
Wang introduced in 2014 that he was promoting the group to a bunch of buyers, and it took impact in 2016. Since then, he had been a minority co-owner.
The group left Lengthy Island in 2015 and performed in Brooklyn. It’ll start splitting video games between the 2 locales later this season.
Wang was born in Shanghai and moved to the USA along with his household as a baby.
He based Pc Associates, now referred to as CA Applied sciences, and was chairman and CEO till 2000. A 2007 report by the corporate’s board blamed Wang in connection to the accounting fraud scandal, however Wang referred to as the report “fallacious” and blamed Kumar. He was by no means charged within the scandal.
Survivors embody his spouse, kids, mom and brothers.
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