They may get a new "local" owner, but in reality, no one is ever locked into a lease. You can always get out.
This isn't the Hotel California.
I had to go search for this 2009 article.
It's up to local pols to make the terms of a lease as airtight as possible, so that the owner would rather find a local buyer, then try to break the lease and move the team.
ISLANDERS' LEASE MAKE RELOCATION DIFFICULT
February 5, 2009
Copyright 2009 MediaVentures
If the owner attempted to move the team, Nassau County Attorney Lorna Goodman said, he could be held in contempt and face the possibility of jail time, high fines and the payment of any damages incurred by the county.
If the Islanders were to contest the lease, Alfred Brophy, a University of North Carolina professor of commercial real estate law, said the county would win the case in court.
"It's a more extreme lease than you typically see," Brophy said. "If I'm the New York Islanders, I'm not sure I would want to sign this lease. From their perspective, it's a bad lease. But just because it's bad, it doesn't mean you can get out of it."
After the embarrassment of the Spano fraud case and earlier failures to find a buyer who'd keep the team in Phoenix, I expect the NHL front office has been very aggressive in investigating Jamison, his partners and their finances.
Just like they were with Del Biaggio and Len Barrie.
I'm not saying that Jamieson is a criminal by an stretch of the imagination, but terrible ownership groups (from those who simply didn't have the pockets to those who actually belong in jail) have found their way through with many teams.