New York Islanders owner Charles Wang is engaged in preliminary talks to sell the franchise, according to TSN's Bob McKenzie:

NYI owner Charles Wang in talks to sell majority stake in NHL franchise. Nothing done yet, no telling if it gets done, but talks underway. — Bob McKenzie (@TSNBobMcKenzie) March 28, 2014

That's a very qualified statement from McKenzie, which should be noted.

Wang has been the Islanders' majority stakeholder since 2004, when he bought out CA Technologies colleague Sanjay Kumar. The team has only advanced to the postseason twice - and hasn't won a playoff round - in the nine seasons Wang has owned the team.

Wang and the Islanders reportedly face a $75 million loan repayment at the end of this season, and lose an estimated $10 million per season.

The oft-criticized Islanders owner was reportedly in talks to sell the franchise in October 2012 for a price of $300 million, an asking price over $100 million higher than the club's latest Forbes valuation (a valuation that should be taken with a grain of salt).

The Islanders are slated to move to the Barclays Center in Brooklyn for the start of the 2015-16 season.