Lateralus Holdings founder David Shuman is purchasing a minority stake in the Islanders, pending NHL <a href="https://bitcomme.com/toms-river-walmart-gets-approval-for-major-store-expansion/” title=”Toms River Walmart Gets Approval For Major Store Expansion”>approval.
Financial details of the transaction, including the size of Shuman’s share and the valuation of the club, were not disclosed. The team said the deal will not impact day-to-day operations, front office leadership or hockey operations.
Shuman serves as board chairman for two of Lateralus Holdings’ portfolio companies, Oura Health and WebAI. Bloomberg reported last week that Oura is planning to raise up to $3B in an upcoming IPO that could value the firm at $16B, while WebAI was valued at $2.5 billion in a January funding round.
Scott Malkin remains the controlling owner of the NHL franchise, withJon Ledecky serving as the team’s primary alternate governor and John Collinsacting as operating partner overseeing business operations. Other members of the ownership group include Searchlight Capital founding partner Oliver Haarmann and Unison Infrastructure CEO Dewey Shay.
The most recent valuation for the Islanders comes from Haarmann’s acquisition of his 10% stake in 2023, which reportedly valued the club at $1.75B.
