The Islanders have called the Nassau Veterans Memorial Coliseum in Long Island home since the team was founded in 1972.
Wang claims to be losing $23 million a year since he bought the team back in 2000.
Wilpon says he's had many discussions with Wang, but admits no verbal agreements or a even a handshake have been made, according to Newsday.
The Islanders were to get a renovation of the Nassau Coliseum as part of the Lighthouse Project. That plan had fizzled out until February when Hempstead town officials hired an independent Westchester firm to draw up "scaled-down" plans. Civic leaders had called the plans proposed by Charles Wang simply too big. The new plans are expected some time this summer.
Nassau County Executive Edward Mangano told Newsday on Tuesday, "We are working hard to keep the Islanders in Nassau County."