96. The Islanders (John Spano)
Swindled
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John Spano's Sale of the New York Islanders
Dallas businessman John Spano bought the New York Islanders for $164 million in 1997. The first installment payment never arrived, so he offered to pay with a promissory note instead. Newsday discovered that nearly everything Spano had said was a lie. He also spent over $220,000 of the Islanders operating budget on lodging and transportation.
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