According to Newsday Scott Rechler has sold the Marriot which is at the center of the Lighthouse back to Charles Wang.
To me this is a signal that Rechler is slowly but surely pulling himself away from this because he knows that it won’t get done.
So I guess the GOP is going to get what they wanted all along!! Something at the site we don’t need to line their pockets (Casino) rather then something useful that could’ve helped the area like the Lighthouse. What a place we live in!!!
August 03 2010 at 00:59
I know that everyone is paranoid and worried about the Islanders leaving Nassau. And as much as I think the TOH are scummy for basically waiting 3.5 years to finally tell Wang that there was no shot at the Lighthouse project happening to begin with, let’s not forget that Wang does have what all previous owners wanted before, which is a sub-lease that provides Wang with all of the revenue streams, such as parking, concessions, and gates FROM ALL EVENTS AT THE NVMColiseum (not just NYI games)!!! Wang cannot dry poor because of the building anymore. Free agents won’t sign here with the Isles because Wang has threatened to move and players don’t want to sign with a team which may or may not be here in five years (in their eyes). I also think players agents are pretty savvy and know that Wang is basically holding the Islanders hostage and using them as a ploy for, what in the end, is his real estate scheme. If Wang wanted to invest his infrastructure in the hockey team by renovating the building, building a modern training facility, and hiring and maintaining scouts, which a few years ago he famously stated he “didn’t need”, then it would likely already be done and we’re all not here pretending that anything any of us, as fans, do will make a shred of difference.
Now, I can already see/hear all of the cliched arguments we, as fans, are spoonfed by the media (but Wang lost all this money on the team and shelled out of his own pocket to save the team, etc). Well, if you believe that, then you are either more gullible or more ignorant than you think. This is a man, who had been allegedly been keeping 35 day months at CA to boost the appearance of his profit and thus his stock prices. What’s really stopping him from cooking them the other way? If you think I am making baseless statements, look at what Kumar, former co-owner of the Islanders, said from his prison cell six months ago and what current CA CEO and staff are saying about ol’ Charlie, now! They’re suing him for about 400 million, if I’m not mistaken!
Anyway, I am fairly convinced the Islanders aren’t going anywhere. Now, whether or not there is a casino on that 77 acre parcel is certainly debatable. I don’t see that happening, either. But Charles Wang and James Dolan are too politically and financially connected for the NYI to go anywhere. Dolan pays through the nose for the NYI on Cablevision’s MSG+ or whatever they call SportsChannel, now, and both Wang and Dolan seem to have money, and the same exact dollar amounts(!) going to the same political candidates, which is indicative that they are in fairly frequent communication, I believe. I would have easily said the same for King Scumbag, Al D’Amato, but it appears both by what what’s been reported and by D’Amato recent political affilations that ties were indeed strained severely between Wang and D’Amato. But, my conspiracy theory (this IS baseless but fun and based on following the money, which is usually the best indicator of what is really goin down, anyway) is that James Dolan, who with Wang and his father Charles, were all contributors to Al D’Amato political career. James and Al were probably at a function with Charlie and James probably asked Al to convince Charlie to buy the Islanders. If you think this is far-fetched, then consider that the Wangs and the Dolans live in houses on the same street.
This probably means that the Islanders will be here for quite a while, but they won’t be good for a while, and I think we all kinda knew that anyway.