|NY Islanders owner Charles Wang|
It appears the New York Islanders will be spending another season in the palatial digs of the Nassau Coliseum. The Islanders are hoping to move out of the Coliseum, consistently ranked as the worst arena in Professional Sports.
Tuesday night, there was a proposal for Nassau County to agree to spend $400 million building the Islanders a new home. It failed. Some 57% of the 89,000 people who turned out to vote--said "No".
The owner of the team is looking at options to move, though the team is obligated via contract to play at the dump/Coliseum until 2015.
Read more from the New York Daily News RIGHT HERE
Really, this isn't a huge surprise. Given the current economic times, getting any kind of public financing for a Sports arena is going to be virtually impossible. And it should be.
Yeah, we, like everyone else realizes the Islanders are playing in a crappy arena. But it is just bad luck or bad timing or whatever else you want to call it that they can't get funding. Because even if they were the Detroit Red Wings, it would be tough to get the funding.
Sure, we saw in the article the County's projection of what it would cost them to lose the team and he's got a valid point. The big problem is not the revenue projection in the future, it's convincing people that making the outlay now, when they don't have it, would be worth it.
The folks at MyFoxNy.com have the TV story: