Sod16 Posted October 10, 2018 Share Posted October 10, 2018 The Islanders ownership bought the team thinking that the "guaranteed" payments from Barclays would make them profitable. It turned out that they were assured a lot less than media reports had it. With attendance poor (management passed off a lot of tickets on brokers at a discount and counted them as sold) both Barclays and the Islanders lost money, which is why they had a mutual parting. Now, added to the cost of buying the team, the ownership has the cost of its investment in the new arena. They will have to give a lot of revenue to their investment partners, and the arena probably won't be very profitable with one team in a saturated arena market. They also are going to have the tremendous expense of running the team for the next three years with dreadful attendance at Barclays, dreadful revenue at the Coliseum, and what is probably a less favorable deal with Barclays than the original one. They sold out the first few years on opening night at Barclays but got 12,100 this year. The got 8,700 for the second game. No one is going to go see the lame duck team at Barclays. The amount of money that these owners are losing and the scope of the debacle since they bought the team is mind boggling. The Islanders owners should have spent an hour late on a winter night waiting for a delayed connection at the Jamaica station before they bought the team. They obviously had never done that. Quote Link to comment Share on other sites More sharing options...
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