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96. The Islanders (John Spano)
Swindled
John Spano's Dream of Owning the New York Islanders
John Spano agreed to purchase the New York Islanders and associated assets for $165 million. He took out a loan for $80 million to pay for the team up front, and he agreed to pay five annual installments of about $17 million for the cable television rights that were included. The first installment was due on April 7, 1996,. There was still an entire hockey season to play, but the sell of the New York Isles to John Spano was basically a done deal.
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