UPDATE: It’s official! Including Mayor Bloomberg giving Charles Wang and Garth Snow Metrocards to attend the Isles eventual “Cup parade.” …Sssssure.

***

There’s an announcement scheduled for 1 PM EST today that includes a telling group of people that pretty much tells the whole story. It looks like the Islanders are moving to Brooklyn.

Here’s what the New York Post is reporting:

Developer Bruce Ratner has scored a major goal by landing the Islanders ice hockey team for his Barclay’s arena in downtown Brooklyn, sources said.

The announcement was expected at a press conference this afternoon with Ratner, Mayor Bloomberg, Islanders owner Charles Wang, National Hockey League Commissioner Gary Bettman and Brooklyn Borough President Marty Markowitz.

Barclay’s is already the home field of the Nets basketball team and its CEO, Brett Yornark will be attending the press conference as well.

I’ll have a reaction post up on this shortly, but hint: I’m pretty happy about it.

Comments (25)

  1. They stay on LI (technically), they keep the name, they dump those thirds, draw in a lot more people, start making and investing money, everybody wins. No reason to build a new arena so close to a brand new facility right down the street.

  2. At one point the Penguins were in the smallest NHL arena with just over 16,000. Then the Winnipeg Jets came in with a 15,000-seater. Now the Islanders are moving to a 14,000 seat (for hockey) arena. Will the average arena start getting smaller?

    • With payroll going up year after year, I would think that these small arenas would just create more drag on the NHL’s finances. This arena wasn’t built with hockey in mind, so there aren’t many seats in the lower bowl behind the net on one side. Might be a bit strange.

  3. Oh, that’s why Buttman could meet the NHLPA, he’s having luch with another money losing owner. 14000 seats that should bring in big bucks!!!!!

  4. Hmm, I feel like if this sticks they should change the name.. New York Islanders in Brooklyn seems a bit silly to me.

    • Why? Brooklyn is still in New York. I would think that New York is enough of an interest-grabber in a name to not just be cast aside.

    • Really? Still in New York and still on the island, absolutely no reason to change the name.

  5. The number of asses in the seats isn’t quite the contributor to revenue that it once was, and it’s likely that is will play less and less of a factor moving forward. Television is driving things.

    It’s also fairly certain that selling 14,000 seats in a 14,000 seat arena is better than selling 8,000 in a 20,000 seat arena.

    • I assume that they will also massively increase their revenue via suites. I’m not sure how many suites (if any) their current barn has, but they are a big source of revenue in newer buildings.

      • Suites are huge, and Barclays has 112 of them (11 of which are “Vault Suites”).

        I like the move, both for selfish reasons, as getting to Nassau from Manhattan is hell, and because it keeps the Isles close to their roots while also keeping them viable. It would have been nice to see a new facility go up on Long Island, but that was never going to happen. This is the next best thing, even with the smaller capacity.

    • Isles have one of the better TV deals in the NHL. Even at a smaller capacity they will certainly get more revenue than their piss poor Nassau lease. Especially with the luxury boxes.

  6. I think this is a great move for Wang & Co., I was hoping that Tavares would leave the Island & come home to Toronto … one can dream LOL>

    • Don’t worry, I’m sure that we’ll get to hear years and years of trade rumors based on out of context quotes that make Leafs fans believe that it’s his dream to play in Toronto.

  7. This is very good news for the organization and for Islanders fans. Ensures the NHL continues to having two organizations in the New York Metro region. Plus, it’s nice because the organization didn’t have to pay anything for the new arena, and despite some backlash, 14,000 seats makes for a nice, intimate atmosphere.

    Plus the last time the team averaged that much in attendance at the Coliseum was 2002-2003

  8. Kevin, that’d be three orgs in the region, and this one just got closer to the other two. Great news though!

    • I always forget about the Devils. You got me there. Still, it’s good for the league to have a presence in the biggest media capital in North America.

  9. Soooo what youre telling me there will be hockey by 2015?

  10. I’m a bit surprised that they opted for a 25 year lease when they could have gone for a DiPietro-esque 700 year lease.

  11. So how much is Wang paying in a relocation fee, and how much of that will the NHLPA be trying to get in the next proposal?

    • I’m assuming that there is no relocation fee since they’re in the same geographic area and were already within 50 miles of two other NHL teams.

      • I don’t know if it is fact but from what I understand the Isles paid the Rangers millions of dollars some 30 years ago for the rights of all physical Long Island (including Brooklyn or Queens).

        Even if that isn’t true the Isles have a cable TV deal for the next two decades on the MSG network which is owned by Dolan who owns the Rangers. I’m sure he’s fine with broadcasting games from Brooklyn rather than Quebec for the next 20 years.

  12. Why doesn’t anybody understand that its not the amount of seats in an arena that matters?

    Would you rather have a 21,000 seat arena that never sells out, or a 14,000 seat arena that you cant get a ticket for? With fewer seats there is more demand and therefor higher ticket prices.

    Also the team makes more money off selling suites and advertising than anything else. Those two things alone are generally enough to pay the team salaries each season.

    Corporate sponsorship rules all.

    • The one problem with your argument is that this is the Islanders that we’re talking about. Their winning history gets further away every year. Plus we’ll have to see how much sight lines are impacted by the fact that this barn was not built with hockey in mind.

  13. Im making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do, http://Max14.com

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