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FILE - In this May 12, 1999, file photo, AOL executive Ted Leonsis, left, and Jon Ledecky, right, hold up Washington Capitals jerseys at a news conference in Washington. The Islanders have announced that the team is being sold to a former Washington Capitals co-owner and a London-based investor. In a statement Tuesday, Aug. 19, 2014, the team says a group led by former Capitals co-owner Jon Ledecky and investor Scott Malkin has reached an agreement to buy a "substantial" minority interest in the team.
Nick Wass, File/AP Photo

Islanders announce sale of minority stake of club

The New York Islanders are selling a minority stake of the team, with a former Washington Capitals co-owner and a London-based investor to become full owners in two years.

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