Nassau County residents reject NY Islanders' plan to dig into the public trough for a new arena

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By Sam Mamudi, MarketWatch


NEW YORK (MarketWatch) — The New York Islanders are staying put. Despite the pain of losing a vote that it hoped would have boosted its finances, the hockey team is expected to remain at the Nassau Coliseum.

It’s now up to team owner Charles Wang to find another way to turn around his money-losing franchise.

“The New York Islanders were born on Long Island in 1972,” said Wang in a statement Wednesday morning. “We have only two goals for the team — winning the Stanley Cup and keeping the Islanders on Long Island.”

The Islanders were attempting to use public funds raised by Nassau County to build a new arena and accompanying development hub, which would have included a minor league ballpark. .............(more)

The complete piece is at: http://www.marketwatch.com/story/islanders-relocation-unlikely-despite-arena-vote-2011-08-03