Sale of Islanders approved by NHL Board of Governors

New York, NY (SportsNetwork.com) - Jonathan Ledecky and Scott Malkin are one step closer to a controlling interest in the New York Islanders.

On Tuesday, NHL commissioner Gary Bettman revealed that the league's Board of Governors approved the move to transfer a majority interest from current owner Charles Wang to the duo within two years.

Bettman added that the official agreement between Wang, Ledecky, Malkin and the NHL is expected to be closed before the start of the regular season.

"It's not going to happen tomorrow because there is some work to do, but I think they're probably shooting to get it done before the start of the season next week," Bettman said. "If they miss it, that doesn't mean anything bad."

The Islanders are heading into their final season calling the Nassau Veterans Memorial Coliseum home. Next year, the four-time Stanley Cup champions will take up residence in Brooklyn's Barclays Center.