Hockey will continue on Long Island for at least five more years.
According to the New York Post, Islanders owner Charles Wang will keep the team on Long Island through at least 2015, when their lease with Nassau Coliseum is up.
Wang bought the Islanders 10 years ago when he wanted to rebuild a fractured team. His goal was to construct a new arena to replace the aged Coliseum, but Hempstead town officials have grounded his construction plans several times.
The Lighthouse Project, which Wang proposed, would have built a new arena, residential properties, a hotel, restaurants and an athletic complex.
Rumors have long circulated that Wang would move the team if his proposal didn’t go through. Cities that have been mentioned in a possible relocation are Queens, Kansas City and Quebec City.
Team general manager Garth Snow has said that the current facility has made it difficult to get talented free agents to join the team.
“If you have a chance to stay at a Ritz Carlton for the same dollar value or a Motor Lodge, I mean, what are you going to select?" Snow said.