Mangano Public-Private Failure: Ferraro Bros Twin Ice Rink Files For Bankruptcy

New York Islander Fan Central | 6/12/2015 12:31:00 AM |
Yes, that's the one, which opened a year ago, and received taxpayer money in Eisenhower Park.
Mike Milbury's corporate bicycle will not save the Ferraro brothers from bankruptcy.

Another public/private partnership success story by Ed Mangano, with the usual non-sense from Kevan Abrahams. 

The rink in my Islanders Iceworks/practice facility history posting.

I feel terrible for Chris & Peter Ferraro. 

video

NYIFC Comments:
This was the place I wanted the Islanders to do a deal with if they were determined to continue practicing in Nassau.

Someone want to tell me why Mangano did not mention this to Charles Wang, instead of going for a bankruptcy auction, and Wang/partners renovating Cantiague Park again?

That's how Wang bought Iceworks lease, in a bankruptcy sale/auction.

This site is in Eisenhower Park, next to the Coliseum with two NHL sized rinks & an outdoor rink that is virtually brand new. I don't see Dolan bidding, but you never know? 

And for those wondering about the fifty million dollar price, please keep in mind the entire Coliseum renovation is only ninety million dollars.
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Side-Note:
Please stop comparing Nassau with Glendale/Arizona, they are amateurs compared with Nassau/TOH.

No one does incompetence like Nassau County/TOH...... 

Glendale paid for a modern arena.
Glendale voted to give it's team 15 million dollars a year before inventing a reason to get out of the deal.

Scott Rechler/Charles Wang (like his predecessors) got  Nassau County who thinks the tenant/team should build Nassau an arena and continue to be a tenant.

That was after spending millions renovating a building from day one the team did not own.

 If Coyote management was watching as I was in 2013 how badly the mayor/city council was against doing that deal despite the approval, the very next day in 2013 they should have had every lawyer going over every word in that agreement to make sure they never gave the city one single reason/loophole to cancel their lease.

In this case, the city reached a separation agreement with former City Attorney Craig Tindall in April 2013 but continued to pay him his salary for six months and relied on him as a consultant. The Coyotes hired Tindall on Aug. 20, about seven weeks after Glendale approved the Coyotes deal.

Is it non-sense? Sure, but the Coyotes are on the outside with a 225m cancelled lease now and have to fight this. That's another Ed Snider Flyers managed facility, the Coyotes brought them in to run the arena.

The NHL has no power here, they cannot fight for the team vs a local government, they can complain but that's it. Andrew Barroway does not deserve this after he helped out the league.


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