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10-26-2012, 02:50 AM
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Location: Burnaby, BC, Canada
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Hub development a challenge as Isles quit
Originally published: October 25, 2012 9:11 PM
Updated: October 25, 2012 10:07 PM

The impending departure of the New York Islanders for their new home in Brooklyn has left the fate of the Nassau Coliseum in doubt, and sports economists, local developers and lawmakers are divided on whether the 40-year-old arena can stay open past 2015.
Islanders owner Charles Wang announced Wednesday that the team had signed a 25-year lease with the Barclays Center beginning with the 2015-16 season...

"I can't see any positive scenario where it would survive without a professional sports team," said developer Scott Rechler, Wang's partner in the failed $3.8 billion Lighthouse Project for the 77-acre Hub property. Wang and Rechler abandoned the project in 2009 after the Town of Hempstead said it was too dense.
The track record of arenas remaining viable after losing a pro team is poor, with many shutting their doors after years of making little profit, said Andrew Zimbalist, a sports economist at Smith College in Northampton, Mass.

Sounds like the circus is still going on....

Last edited by Homeland Security: 10-26-2012 at 01:21 PM. Reason: Shortened article.
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