Prokhorov decides to shutter Nassau Coliseum, leaves Islanders in limbo (back to Brooklyn next season?)
Upending the future of the New York Islanders (and Long Island Nets ), the Nassau Coliseum, already mothballed because of the coronavirus pandemic, will close indefinitely as arena operator Onexim Sports and Entertainment, which leases the building from Nassau County, has decided to get out of the business. Onexim--owned by Russian billionaire Mikhail Prokhorov, who formerly owned the Brooklyn Nets and the Barclays Center operating company--is seeking new investors to operate the arena and assume the $100 million debt left over from the $180 million (or $165 million ) renovation launched by Barclays developer Bruce Ratner and Prokhorov. The EB-5 promotion Note that $100 million in debt [update: originally reported as $90 million] is owed to EB-5 investors , who offered low-interest loans in exchange for green cards, and that total investment was once said to cost $260 million. Note that there's often a five-year term before repayment is required, and no ann...