Islanders agree to sell minority stake in team to venture capitalist David Shuman
A general view of UBS Arena prior to the game between the New York Islanders and the Calgary Flames on March 14, 2026. Credit: Getty Images/Bruce Bennett
The Islanders’ ownership group now has a sixth investor.
David Shuman, founder of Lateralus Holdings, has agreed to acquire a minority stake in the team, his company and the Islanders announced on Monday. The deal is subject to NHL approval.
The Islanders said in a press release that there would be no changes to the team’s day-to-day operations.
The 57-year-old Shuman, who grew up in Manhattan, joins a group led by principal owner Scott Malkin who, along with co-owners Jon Ledecky and Dewey Shay, were approved to assume an 85% share in the Islanders from the late Charles Wang on June 22, 2016. The group has since been joined by former NHL executive John Collins and financier Oliver Haarmann.
Malkin's group bought the remaining 15% from Wang's estate at the end of 2020.
The Islanders declined to disclose what percentage of a stake in ownership Shuman will hold.
“Hockey has been a constant in my life since childhood, both as a fan and a player,” Shuman said via a press release. “The 1980 [Team USA Olympic] Miracle on Ice combined with the Islanders’ four consecutive Stanley Cup championships [from 1980-83] cemented a lifelong passion. My childhood bedroom was covered in newspaper photos and magazine covers of Mike Bossy, Bryan Trottier, Clark Gillies, Denis Potvin, Billy Smith, John Tonelli and Bobby Nystrom.
“Being part of this organization today is a full-circle moment. I’m honored to help support the Islanders’ future and their drive for a fifth Cup.”
Lateralus Holdings is a venture capital firm that invests in technology companies. Shuman also serves as chairman of Oura and webAI.
“David is one of the most passionate Islanders fans I know and an extraordinary builder of companies,” Ledecky said in the release. “That mindset will be invaluable as we continue to invest in this organization and in this community.”
The Islanders were valued at $2.1 billion in Forbes' 2025 NHL valuations, ranking 15th in the league.
Andrew Gross joined Newsday in 2018 to cover the Islanders. He began reporting on the NHL in 2003 and has previously covered the Rangers and Devils. Other assignments have included the Jets, St. John’s and MLB.
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