46°
Former Brooklyn Nets owner Mikhail Prokhorov, who operates Nassau Coliseum through Onexim Sports and Entertainment, announced that the company will “shutter the venue indefinitely” as it seeks new investors for the building.
According to a Bloomberg report, Onexim has told potential investors that it would turn over the lease in return for assuming roughly $100 million in loans on the property.
Earlier this year, before the novel coronavirus (COVID-19) pandemic, New York Gov. Andrew Cuomo announced that the Islanders’ entire 2020-21 season would be played at the Coliseum as they awaited the conclusion of construction at Belmont Park.
Until the Belmont arena is complete, if the Coliseum remains closed, it is likely that the Islanders will make a return to Brooklyn to play at the Barclays Center, which was in their initial agreement two years ago when they decided to split home games between the two venues.
The Coliseum was the home ice of the Islanders from 1972 to 2015, when the arena was then temporarily closed for a $180 million renovation and the team made the transition to Brooklyn.
“Accordingly, (we) have engaged with Nassau County, other important stakeholders, and potential investors to find the right party or parties to take over operations of the Coliseum,” a spokeswoman for Onexim said in a statement. “We cannot predict or control the actions of other interested stakeholders.
“However, we remain confident that the Coliseum and the proposed development project represent valuable investment opportunities, committed to the effort to find the right solution to the problems confronting the Coliseum, and hopeful that these efforts will bear fruit."
The Islanders have not issued an official comment. It is unclear how many employees will be out of a job due to the closing of the Coliseum.
This is a developing story. Check back to Daily Voice for updates.
Click here to follow Daily Voice Suffolk and receive free news updates.
