Isles' Arena Shut Down

[Fenway]

Depends on what happens between now and janurary

Obviously

 

[LeapOnOver]

Today it is the XL Center

Ahh, I see. Cool!

 

[CHRDANHUTCH]

Today it is the XL Center

building is operated by Spectra aka Comcast Spectacor which as you can see here has been the home of the Rangers affiliation since 1997, even despite the 18 month interruption that was Howard Baldwin and the ill fated Connecticut Whale (to appease those fans want the Whalers back in New England whose jersey rights as we later found out are trademarked by Carolina hence @Fenway 's reference to the term "Whalercanes" SINCE Carolina has elected to bring that logo/jersey back as an alternate).

Spectra also operates by contract along with XL Center, the Wolf*Pack's business end of the franchise for MSG/Rangers..... it is one, if not the primary reason why MSG/Rangers have the affiliation since Portland returned to affiliated hockey in 2018, as Spectra owns and operates both that arena and franchise as one single entity

 

[Ernie]

Prokhorov’s Onexim Sports and Entertainment operates the arena under a lease from Nassau County

Yes, I understand that, but why are they on the hook for $100m as part of that lease? Seems like an odd setup.

 

[oknazevad]

Yes, I understand that, but why are they on the hook for $100m as part of that lease? Seems like an odd setup.

It may be that the debt is related to the price tag of the renovations, which were done on Prokhorov's dime, not the county's. Probably just not enough money being made for them to want to continue (and the outlook is probably even worse once Belmont Arena opens), but they don't just want to off load the lease if they can't get someone to pay off their remaining debt on the cost of renovations, which were not cheap, even if they were just lipstick on a pig, as they've been aptly described. The place definitely looks better than it did before, but it's still cramped and dated in many ways.

 

[Centrum Hockey]

It may be that the debt is related to the price tag of the renovations, which were done on Prokhorov's dime, not the county's. Probably just not enough money being made for them to want to continue (and the outlook is probably even worse once Belmont Arena opens), but they don't just want to off load the lease if they can't get someone to pay off their remaining debt on the cost of renovations, which were not cheap, even if they were just lipstick on a pig, as they've been aptly described. The place definitely looks better than it did before, but it's still cramped and dated in many ways.

Is the land worth anything? if it becomes a albatross for the county maybe they can sell the arena to a private developer.

 

[CHRDANHUTCH]

Is the land worth anything? if it becomes a albatross the county maybe they can sell the arena to a private developer.

you have to remember, Centrum, the Islanders, as an organization, wants to keep the connection to Uniondale, the issue lies more on both Nassau and Suffolk counties as to where the NCVMC is at present, and its future.... developers tried, as did the Islanders, to urge both counties to replace the arena, even though Nassau's name is on the arena (ignore the NYCB end of that) it's always and forever known as the Nassau County Veterans Memorial Coliseum.... this was the sad, and unfortunate truth as to why Belmont was first proposed and will soon become a reality in addition to the Belmont Stakes Festival...Nassau/Suffolk rejected any calls to renovate it and/or replace it.... and this was the major reason why Barclays became more and more a player in that until Belmont is the end game.... it's surprising that the Islanders were wanting to return there knowing it was simply a short-term fix in the schematics of leaving Long Island behind.... as they say, change is sometimes difficult to accept what a new reality and era is dawning for the Islanders, their fanbase, etc..... no fanbase will ever forget the NCVMC as the generations move forward in this sport.

Simply, the time has now likely come to bid the NCVMC a fond farewell, just as we did when the Islanders first announced they were going to BARCLAYS, even as temporary as that was , except this maybe the last event, whether or not the perception of COVID 19 hastened the end of this fabled arena, or the reality that Prokhorov/ONEIX, finally realized what everybody has similiarly come to a conclusion that the NCVMC, as it stands presently, harkens back to a different era of hockey, that changes/evolves, although you may not see it in a tangible sense....

it's like SPECTRA and its related business entities, fans treat these arenas like it's a part of their extended family, but when one arena goes away and the decision is made to update or build the next generation of arenas...

the Spectrum was one of those... there are countless others throughout hockey, even among past, present, or future markets/franchises/leagues, etc

 

[oknazevad]

Is the land worth anything? if it becomes a albatross the county maybe they can sell the arena to a private developer.

The renovation of the coliseum is supposed to be linked to a large development around the building in some of the parking lots, which are massive, and can hold more cars than people can fit in the arena. Indeed, even if it was a total sell-out, and every single person drove their own car, there'd still be half as many parking spaces unoccupied. There's a reason Islanders fans have a football-esque tailgating tradition, which is actually part of the reason why the Brooklyn move didn't work.

Fact is, while there is a definite dearth of mid-sized arenas in the NY area (there's really none of the ~10,000 seat places as one finds in other cities like Chicago or LA), a half-assed renovation of Nassau Coliseum isn't the solution to that idea, especially when it's big enough that it's really still competing with the full-sized building like MSG, Barclays, and the Prudential Center, plus Belmont. I knew that it was unlikely to survive much longer, but the suddenness of this surprises me totally.

 

[KevFu]

Yes, I understand that, but why are they on the hook for $100m as part of that lease? Seems like an odd setup.

Why do you think the $100 million is solely because of the Coliseum deal? Onexim has dozens of assets/arms around the world in all kinds of different areas, and the global pandemic is basically reeking havoc on the global economy.

Coliseum is an easiest thing for Onexim to use to save expenses, since the "event industry" is basically shuttered and revenues aren't coming in.

 

[Chet Manley]

The renovation of the coliseum is supposed to be linked to a large development around the building in some of the parking lots, which are massive, and can hold more cars than people can fit in the arena. Indeed, even if it was a total sell-out, and every single person drove their own car, there'd still be half as many parking spaces unoccupied. There's a reason Islanders fans have a football-esque tailgating tradition, which is actually part of the reason why the Brooklyn move didn't work.

Fact is, while there is a definite dearth of mid-sized arenas in the NY area (there's really none of the ~10,000 seat places as one finds in other cities like Chicago or LA), a half-assed renovation of Nassau Coliseum isn't the solution to that idea, especially when it's big enough that it's really still competing with the full-sized building like MSG, Barclays, and the Prudential Center, plus Belmont. I knew that it was unlikely to survive much longer, but the suddenness of this surprises me totally.

Wasn't Wang willing to build most of a new arena as a way to develop property around it? Somehow a half-assed reno got that deal done? Probably not an apples-to-apples thing.

 

[Pure Slaughter Value]

Wasn't Wang willing to build most of a new arena as a way to develop property around it? Somehow a half-assed reno got that deal done? Probably not an apples-to-apples thing.

He wanted to build a "lighthouse" apartment building and many retail fronts in addition to redeveloping the Coliseum. The town came back with "allowing him" to renovate the Coliseum but not allow any of the other complexes and amenities, which really didn't ensure anything other than Wang losing more money. Having retail and apartments ensured that Wang would make money (after losing approx 10-20 mill a year)

 

[Centrum Hockey]

Coliseum would become music venue under new partnership

 

[Stumbledore]

I wonder if it's a coincidence that Régis Labeaume starts enquiring about the finances and portability of NHL teams just 72 hours before Mikhail Prokhorov's announcement.

 

[BKIslandersFan]

I wonder if it's a coincidence that Régis Labeaume starts enquiring about the finances and portability of NHL teams just 72 hours before Mikhail Prokhorov's announcement.

What the hell does this have to do with QC? Islanders are half way done building their new arena.

 

[Stumbledore]

What the hell does this have to do with QC? Islanders are half way done building their new arena.

I'll leave that to someone else to connect the dots for you.

All I seem to do this week is annoy the hell of you so it's best that I refrain from any more exchanges.

 

[BKIslandersFan]

I'll leave that to someone else to connect the dots for you.

All I seem to do this week is annoy the hell of you so it's best that I refrain from any more exchanges.

Why are you here if you don't want to have a discussion? Weird.

 

[Centrum Hockey]

I wonder if it's a coincidence that Régis Labeaume starts enquiring about the finances and portability of NHL teams just 72 hours before Mikhail Prokhorov's announcement.

Where you implying that Qubec might try to offer the iles a deal to play at the Videotron for the 2020-2021 season?

 

[Stumbledore]

Where you implying that Qubec might try to offer the iles a deal to play at the Videotron for the 2020-2021 season?

Yes!

Or any part of the season.

Dozens of obstacles and legal impediments, but the Count is a master at clearing things away when it suits his purpose.

 

[BKIslandersFan]

Yes!

Or any part of the season.

Dozens of obstacles and legal impediments, but the Count is a master at clearing things away when it suits his purpose.

For what? Worst case scenario you know how many arenas there are in NYC area?