3 N-H-L clubs have new owners
Tuesday, June 20th 2000, 12:00 am
By: News On 6
(New York-AP) -- The sales of three N-H-L teams are complete.
The N-H-L Board of Governors has formally approved them in a step that was considered a formality in all three cases.
The ownership of the Stanley Cup champion New Jersey Devils is transferred from John McMullen to Puck Holdings, an affiliate of YankeeNets. The principal owners are George Steinbrenner, Lewis Katz and Ray Chambers. The price is 175 (m) million dollars.
Avalanche ownership moves from Ascent Entertainment to Liberty Media and finally to Stanley Kroenke (KRAHN'-kee), a real estate developer and heir to the Wal-Mart fortune.
Kroenke is buying the Avalanche, the Denver Nuggets and Pepsi Center for 450 million. The Islanders' new owners are Computer Associates executive Charles Wang and Sanjay Kumar. Howard and Edward Milstein and Steven Gluckstern sold the team for 190 (m) million dollars.