UNIONDALE, NY — The Islanders are yet again without a home. Until billionaire Mikhail Prokhorov can find an investor to pay off the $100 million in debt accrued by the arena, the Nassau Coliseum will be closed.
Nassau Coliseum, operated by Prokhorov and Onexium Sports and Entertainment, closed in March due to the COVID-19 pandemic. The arena cancelled all live events, and it has not brought in much revenue.
Per a Bloomberg report, Prokhorov said that he would “turn over the lease in return for assuming $100 million in loans on the property.”
The Islanders have not yet commented on these developments.
Nassau County Executive Laura Curran will likely speak about the closure today, according to Patch.
The Islanders began construction on a new arena in Belmont Park last summer. In February, New York State Gov. Andrew Cuomo said that the Islanders would play all their games, regular season and playoffs, at Nassau Coliseum until the new arena was ready.

With the move to Nassau Coliseum came the end of the Islanders’ time at Barclays Center, their home since 2015. Newsday reported that if an investor can’t be found, the team might move back to Brooklyn.
Prokhorov has time on his side, though. The Islanders will not play the 2020 playoffs at Nassau Coliseum. MSG reported yesterday that Las Vegas might be the host city for the Eastern Conference. The 2020-2021 season will not start until at least November or December.
The Islanders have been splitting their home games between Nassau Coliseum and Barclays Center since last season. It was the team’s only home from their founding in 1972 to the end of the 2015 season.
Construction on the new Belmont Arena resumed on May 24th. It is expected to be completed in time for the start of the 2021-2022 season, even though construction was paused for nearly three months.

Ben Baruch

Born and raised on Long Island. Isles fan since 2009. Studying journalism at the University of Maryland, College Park.