By Nick Ziegler (@Ziggy26x)

Current New York Islanders’ owner Charles Wang has reached an agreement to sell the team to former minority owner of the Washington Capitals owner Jon Ledecky and the group he is leading. Ledecky and his partner Scott Malkin will be acquiring a significant minority share in the Islanders, with a stipulation in two years that will be giving them a majority share.

"We are pleased to have the opportunity to become partners in the New York Islanders with Charles, and to pursue our shared dream of winning a fifth Stanley Cup for the greatest fans in the NHL," said Ledecky in a statement.

"I'm thrilled that Jon and Scott have agreed to join me as we start the Islanders' final year at Nassau Veterans Memorial Coliseum," Wang said in a team press release.

The upcoming season for the Islanders will be their last in the Nassau Coliseum before they move to the Barclay Center in 2015, and then after that season will be owned by Ledecky.