Long Island Business News: Reports Charles Wang has won the bidding for bankrupt Twin Rinks in Eisenhower Park for eight million dollars.
Eight million for a rink that ran over-budget to fifty million dollars that's a year old?
Money talks, and no the bankruptcy sale process is a simple bid after qualified parties are selected who can operate a facility, this was not Nassau County's decision to make.
Wang made a nice statement hosting prospect camp there for a week.
Wang also beat out Ed Blumenfeld (lawsuit with Ratner over Coliseum) who had Bob Nystrom/Gerry Hart's support/SoNo in Norwalk Ct.
Hart backed off his bid in 2001 for Iceworks which Wang won for a 1.4 million bid, and endorsed Wang's efforts at the time.
Do Agreements Matter?
I suggest folks again read the Cantiague Park Agreement reported on the Islanders website on 6/5/15
The agreement to renovate Cantiague, and construct offices, was a settlement for Wang to get back almost five million dollars in Lighthouse project money in escrow, my impression is Wang is obligated per that ten year lease agreement to move the Islander practices there beginning 12/31/15 with team offices to be completed by February regardless of Twin Rinks or Iceworks.
All we have is what was reported in terms of the agreement with Nassau regarding Cantiague. Why is Mangano going to let him out of that agreement?
What happens could come down to how embarrassed Mangano/County are over the Twin Rinks fiasco where he gave his state of the County speech.
Ok. Twin Rinks, Cantiague, Ice Works.
Guess he did this for the real estate too?
Let's see a re-branding from Twin Rinks to Al Arbour Rinks at Eisenhower Park. No disrespect to the Ferraro brothers.