New York Moves To Brooklyn Effective 2015... 25-Year Iron Clad Lease....Team Retains New York Name...Wang Intends To Retain Ownership

New York Islander Fan Central | 10/24/2012 02:04:00 PM |
 Islanders website: Issued the official release

ITV: Has the press conference with Charles Wang, Bruce Ratner, Mike Bloomberg/others. 

Complete Press Conference with Q & A

 The announcement was made at a press conference in the GEICO Atrium at Barclays Center, which was also attended by New York City Mayor Michael R. Bloomberg, National Hockey League Commissioner Gary Bettman, Brooklyn Borough President Marty Markowitz, Islanders General Manager Garth Snow, and Barclays Center CEO Brett Yormark.

In support of the illustrious history of the team, the New York Islanders name and logo will remain unchanged.

"It was our goal from day one to keep the Islanders in the local New York area." Wang said. "We’re thrilled to have the opportunity to play in Barclays Center, a first class arena. This has been a long journey for the Islanders family starting with our loyal fans, sponsors, and employees. I want to personally thank them for their patience, loyalty, and support. I am excited about today’s announcement and I am looking forward to a long and successful future in Brooklyn."
 Just watched complete press conference on
"We have tried very hard to keep the Islanders in their original home," Wang said. "I want to specifically thank Nassau County Executive Ed Mangano and his team for their help trying to find a solution to keep the Islanders there. Unfortunately, we weren't able to do that."

"I have said consistently we will honor our lease (at the Coliseum)," Wang said. "Obviously anything can happen, but we are committed to being there through 2015."

Will update this entry, adding video, credible articles as available.
NY Post: Has updated comments that Charles Wang will honor his Coliseum lease.   The Post laughingstock hockey media did not attend. Had comments from Jiggs McDonald, who said shame on Nassau County somewhere on Facebook (I did not see) Bob Gutkowski and the usual politicians doing their bad actor impersonations who hardly seemed devastated from Murray to Stuart Rabinowitz to Kevin Abrahams.

NYIFC Comments:
A ton to digest. My initial reaction is how does Charles Wang make money as a tenant  in a building he does not own vs what he made at the Coliseum if he retains ownership as he said?

He just walked away from a hotel that was making money from NHL games next door he currently own, plus teams that stayed at his hotel. Come Sept 2016 the Islanders will require a practice facility near this arena.

2015-16 is a long time away for a 68 year old owner, but the bottom line to that is an iron clad lease means the talk of this team leaving New York ends permanently until 2040 beyond his tenure as owner. 

Great for Charles Wang keeping this completely quiet in the sourced-based/rumor filled NHL media, he caught everyone off guard which I loved. 

Dolan's Msg Networks/WFAN did not carry the press conference, nor did YES in a show of who your friends really are.

Mayor Bloomberg gave the New York Islanders the metrocard to the Canyon Of Hero's. Gary Bettman was present and endorsed the move, citing the capacity vs the Nassau Coliseum as a small factor.

Wang said he will remain the sole owner of this franchise. 

Obviously Long Island only/fans a devastating day. For New York Islander fans, a bittersweet day but the day of speculation of this teams future seem to be apparently over. For myself, this blog has always considered the New York Islanders as much New York as the Yankees.

However that viewpoint is not shared by others including many alumni, despite the long-term fan support at Msg/New Jersey.

Charles Wang retains his Marriott hotel, abatement to the Coliseum and maintains control of the HUB property beyond the lease unless a far less significant announcement is coming. Ed Mangano, decades of Nassau politicians officially lost their hockey team today or last summer with their referendum as opposed to paying as everyone else in New York/New Jersey had to do. 

Wang did the right thing, the New York Islanders will never be the Brooklyn Islanders, this teams history/tradition are too special for any other name, he also kept the team in the New York area despite comments of out of market offers.

Is that consolation to generations of fans who saw this team as Long Island only which many media sold as such to cut coverage? No. 

What will Ed Mangano's reaction be? This is a tough time for Mangano with police business but he gave his comments.

The signs were there with Smg bringing in a general manager to book events in a sublease where the Isles booked events, this blog wrote about it back in February.  The team not having a prospect camp at the Coliseum in July, no practices pre lockout, no training camp at Coliseum while the prospects stayed at Wang's hotel.

The New York Islanders officially became a lame-duck franchise at the Nassau Veterans Memorial Coliseum today. The door is open for whoever develops the site under Mangano's plan or Dolan to come in and renovate the building for AHL hockey/events.

Bottom line the New York Islanders remain the New York Islanders, with what is likely a media forced to cover them as a New York team.

This is going to be a very long/bitter sweet three year goodbye, unless Nassau County decides they can leave sooner. 

My advice is for the fans seeing this as goodbye should understand the Devils moved to Newark from the Meadowlands, the Capitals moved downtown from Landover, the Oilers are trying to move into a city. The Pistons moved to Auburn Hills.

It's not goodbye, they are moving twenty miles, not out of state. 

Charles Wang felt he waited as long as he could to do something with Nassau, he did not receive anything that the other local teams received, it remains to be seen how he does much better as a tenant here.