Islanders Owner "Not Giving Up" on Long Island

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    NEWSLETTERS

    TK
    Getty Images
    Islanders owner Charles Wang

    The owner of the New York Islanders says he's "not giving up on Long Island" after voters rejected a plan to borrow $400 million for a new hockey arena.

    Team owner Charles Wang said in a statement Wednesday that he has two goals for the Islanders: winning the NHL's Stanley Cup and staying on Long Island.

    The Islanders' lease at the Nassau Coliseum expires in 2015.

    In a referendum Monday, Nassau County voters rejected a plan to replace the 39-year-old coliseum. The plan also included development of a nearby minor league ballpark and possibly an indoor track and field facility.

    Some have suggested that Wang could move his team to the new arena being built in Brooklyn for the NBA's Nets, or to eastern Long Island.