from Scott Soshnick of Bloomberg,
After two years and countless complaints, Brooklyn’s Barclays Center has concluded it’s no longer worth it to host the New York Islanders.
The arena, which is already home to the NBA’s Nets and one of the world’s top-grossing concert venues, would make more money without the National Hockey League team, according to people familiar with the facility’s financials.
Russian billionaire Mikhail Prokhorov, who owns the building and the Nets, has since November been seeking an investor to take a stake in both. As of earlier this month, a financial projection shared with potential investors showed the Islanders won’t contribute any revenue after the 2018-19 season -- a clear signal that the team won’t play there, the people said.
Barclays Center wouldn’t speak to the future of the Islanders. Tim Leiweke, co-founder of Oak View Group, which has been advising the hockey team in talks with the arena, declined to comment, as did a spokesman for Islanders owners Jonathan Ledecky and Scott Malkin.
added 4:44pm,
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