In 1996, a 32 year old Dallas, Texas businessman John Spano reached an agreement to purchase ownership of the New York Islanders. His time as owner was short due to an illegal, fradulent run as owner of the team.
As recently as this month, ESPN announced their list for the ‘30 for 30’ series which is a well done show that takes a deeper look into sport related issues. On this list, to everyone’s surprise, was the situation between John Spano conning the Islanders in an attempt to purchase the franchise.
In short, due to the NHL's limited financial background checks at the time he was able to swindle a whole franchise and league! John Spano made himself seem worth more than he actually was while both the league and team stood by.
While most fans are familiar with this situation, some young fans will be surprised of the turmoil that went on during this time in the mid 90s.