Voters Reject Islanders Arena

Despite the efforts of owner Charles Wang and New York Islanders execs, the pro hockey team will not have a new arena to play in come 2015 – at least not in a publicly funded one in Long Island.

Voters in Nassau County, which reportedly has some of the highest local taxes in the nation, rejected a $400 million bond issue Aug. 1 that would provide the Islanders with a replacement to the aging Nassau Veterans Memorial Coliseum. The turnout was low – about 17 percent – and 57 percent of voters rejected the plan.

Wang has been working on a new arena for a decade.

“I have to tell you I’m disappointed, and to put it very bluntly, I’m heartbroken,” the New York Times quoted him as saying. He added that the Islanders will honor its lease at the Coliseum, which runs through 2015.

The Islanders were a source of pride for the community, winning the Stanley Cup four times from 1980 to 1983 but has been a cellar time since – with comparable attendance – although the team has become more competitive lately.

The Coliseum has housed the Islanders since the NHL expansion team emerged in 1972. It has also played home to the New Jersey Nets among other sports franchises. Business Insider didn’t pull any punches with its headline, stating the team was “doomed” because of the voters’ rejection.