Complex sentence: He is currently the majority owner of the New York Islanders hockey franchise, which he became part-owner of in 2000 and he later bought out the share of business partner Sanjay Kumar in 2004, and the New York Dragons Arena football franchise.
Split into simpler sentences: He is currently the majority owner of the New York Islanders hockey franchise, which he became a part-owner in 2000. He later bought out the share of business partner Sanjay Kumar in 2004, and acquired the New York Dragons Arena football franchise.