The New York Islanders look like they’ll call Barclays Center home for at least another two seasons, but after 2018-19 the team may be on the move to another arena.
According to a report from Newsday, Barclays Center has taken the first step towards a potential opt-out of the current 25-year lease agreement with the NHL team. Newsday reports that the two sides have until Jan. 1, 2018 to renegotiate terms. If the two sides are unable to reach a new agreement, they can either stay with the current arrangement, or opt out.
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If either side chooses to opt out, they would have to deliver a notice in writing by Jan. 30, 2018. If the Islanders opted out, they could leave as early as the end of next season, or after 2018-19. If Barclays Center opts out, the NHL team would need to leave by the end of 2018-19.
Although the letter was described by the sources as a procedural step, it’s an important one. According to a lease summary document, the two sides must engage in “good-faith discussions” to renegotiate the financial terms of their agreement in order for either side to opt out of the deal next January.
This comes on the heels of another Newsday report from April, which indicated the Islanders had submitted a bid to build a new arena at Belmont Park, N.Y.
“Yes, there is an RFP [request for proposal] for Belmont and I know they are going to participate in that,” Bettman told reporters, while also saying Willets Point, by Citi Field, could also be an option.
“I believe that everyone thinks there is a terrific opportunity there, if not at Willets Point, to create a more hockey friendly environment for the Islanders, which is something [team owner] Scott [Malkin] is committed to do.”
The Islanders have been playing at Barclays Center since the 2015-16 season after spending more than 40 years at Nassau Coliseum. However, the current arrangement has had more than a few flaws.
Barclays Center was built with the NBA’s Brooklyn Nets in mind, resulting in an off-centre scoreboard and seats with obstructed views when the NHL uses the facility. Poor ice conditions have been a major sore spot for the players and the team has been plagued with low attendance, finishing 27th in the NHL this season with an average of 82.9 per cent capacity for home games.
In January, Bloomberg News reported that Barclays Center would make more money without the Islanders as a tenant, citing a financial projection that was presented to investors. That report indicated the Islanders would not be contributing any revenue beyond 2018-19, which Bloomberg speculated was “a clear signal that the team won’t play there.”
All along there have also been rumours that the Islanders could return to a renovated Nassau Coliseum on Long Island, but that has mostly been viewed as a pipe dream. Bettman himself has said Nassau is “not a long-term option.”
However, according to the most recent report from Newsday, Barclays Center is expected to pitch a plan that would move the Islanders back to their long-time home.
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