Coyote Co-Owner Pursuing Islanders

Steven Gluckstern, part owner of the Phoenix Coyotes, signed a letter of intent to purchase the New York Islanders for an estimated $195 million.

Gluckstern’s 50% ownership of the Coyotes will help his credibility with the NHL in the process of purchasing the Islanders.

If Gluckstern and partners Howard Millstein, Stephen Ross and Dan Doctoross do obtain the franchise from current owner John Pickett, Gluckstern will sell his share of the Coyotes to co-owner Richard Burke.

Gluckstern became interested when former owner John Spano, who had purchased the team in February, had to give the team back to Pickett because he failed to make payments. Spano later was indicted on bank and wire fraud charges.

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Vincent Damphousse reported to training camp after signing a one-year $3.275-million contract that makes him the highest-paid player in Montreal Canadien history. Damphousse is coming off a a sub-par season. . . . Defenseman Chris Therien has agreed to a multi-year contract with the Philadelphia Flyers.