Brooklyn is getting a hockey team, you may have heard, which may be good or bad for the borough, but is almost definitely a good thing for the New York Islanders franchise, which will escape the 40-year-old Nassau Coliseum.
“Once they’re in the Barclays Center, the asset is going to be much more valuable,” said Peter Bynoe, chief operating officer at Loop Capital Markets and a former owner of the Denver Nuggets, at a panel on sports mergers and acquisitions at the Bloomberg Dealmakers Summit at the Pershing Square Signature Center today.
An Arena Grows in Brooklyn
Some good news for Bruce Ratner today, but probably not for the neighborhood or the folks who want to move into the developer’s promised apartment towers at Atlantic Yards. The Islanders will mean more crowds roaming the streets of Prospect Heights and Fort Greene before and after games, and more revenue for the Barclays Center, but this will not help speed up construction of the long-delayed apartments, according to Mr. Ratner.
Barack Obama has plucked another Democratic fund-raiser from Hillary Clinton’s home turf.
Steven Gluckstern, a politically active investment banker and former owner of the New York Islanders has joined Barack Obama’s national finance organization.
“People like me have to be looking well into six figures,” Gluckstern just told me in a telephone interview. Read More
Fred wears a tie; Nelson ties a jaunty sweater around his neck. Fred grew up in Bensonhurst; Nelson is from Oyster Bay. Fred’s father was an undertaker; Nelson’s father willed him a publishing fortune.
And on Oct. 24, as Mets pitcher Rick Reed opened Shea Stadium’s first World Series game since 1986, Fred Wilpon and Read More
The nasty power struggle between cousins Philip and Howard Milstein over their family’s real estate and banking empire is getting uglier, with new allegations that Howard Milstein used funds from family assets he controlled-the Douglas Elliman residential real estate brokerage and the Milford Plaza Hotel-to finance ventures into sports, real estate and the Internet.
On Read More
Michael Largue, a self-described investment banker from Uniondale, L.I., has been putting out word that he wants to buy a professional hockey team. That’s how this sort of thing gets done: You let people in the business know you’re interested.
What you shouldn’t do, though, is give an overenthusiastic account of your life and resources. Read More