With the August 1st date approaching, the proponents and detractors of the new Arena Project in Nassau County are making their final pitches to local residents. Today, Mike Francesa interviewed Islanders owner, Charles Wang and Democratic majority leader, Jay Jacobs on sports radio, WFAN in New York. Mike Francesa conducted a fair interview and allowed Jacobs and Wang to be heard on equal time.
Listening to Jay Jacobs embarrass himself and fumble for answers during the interview on WFAN was painful to listen to, even for me. I am completely biased and pro-common sense, but I thought he would have had his facts in order and put together a reasonable attempt at debate.
Jacobs started his attack by asking why Charles Wang wasn’t paying for the arena project himself. Why was it necessary to use taxpayer money? That would be a fair point to anyone who hasn’t followed this nightmare since 2003. Charles Wang was prepared to pay without using taxpayer money when he wanted to build the Lighthouse project, backed by the same Democrats Jacobs now represents. The then opposition, the Republicans that now back Wang and the Islanders on new arena project fought off every attempt for Wang to come to an agreement on the details on the plan. Still following me? The politics are the root of the problem here.
Jay Jacobs went on to say that there was plenty of time to get a new Coliseum built if the residents of Nassau County vote no. He said it would take 18 months to build the new Coliseum. He would get together with developers and work out a plan to get it done. His plan would involve PSL’s or a personal seat license. It is a tactic employed by teams who build new stadiums or arenas by charging a season ticket holder a fee that would technically give the holder the right to buy season tickets for a certain seat in a stadium or arena. A quick glance for PSL’s to New York Giants season ticket holders ranged from $2,800 to $75.000. Yes, that is a fee that gives you the right to then pay for the seat you optioned to buy season tickets for. This was a key part of his solution that he thought fans were expected to pay. He insinuated that he did his part in the construction costs for the Giants new facility. It is known that the revenue for NY Giants PSL’s goes to the team and had nothing to do with the construction of the new stadium.
Jacobs still claimed the cost to taxpayers would be $58.00/household and various capital expenditures could increase the overall amount by millions. He even stated a developer showed interest in building a $135 million dollar garage on the Coliseum site. It is well known that in a bipartisan budget review, the tax burden to each resident would be $13.80/household. What he failed to mention was that in another independent study it indicates taxes will go up by at least $16 without a viable coliseum in Nassau County.
Jacobs still claimed the cost to taxpayers would be $58.00/household and various capital expenditures could increase the overall amount by millions. He even stated a developer showed interest in building a $135 million dollar garage on the Coliseum site. It is well known that in a bipartisan budget review, the tax burden to each resident would be $13.80/household. What he failed to mention was that in another independent study it indicates taxes will go up by at least $16 without a viable coliseum in Nassau County.
I am hopeful that if anyone was undecided or not fully committed to a decision for the August 1st vote, that Mr. Jacob’s dialogue with WFAN’s Francesa said it all for the detractors.
For years before Wang bought the Islanders, the land in and around the Coliseum sat undeveloped. No one ever made the efforts necessary to develop the land or make it work for Nassau residents. The fact is business all over Nassau County is disappearing. The economy is terrible, people are unsure of what their economic futures will be. Nassau County has a dismal history of economic failure and stagnation. It is the position of Charles Wang that although the new arena wouldn’t solve the mounting economic problems of Nassau County, this new destination for Long Island would be a catalyst for a resurging economy. Modeled after a facility like the Prudential Center in Newark or the Consol Energy Center in Pittsburg, the new Coliseum would be a state of the art facility that could bring the same renewal and opportunity to Nassau County. It would be a hub for Long Island and a place to watch more than the rebirth of hockey greatness; it would be a premiere facility for family entertainment. With the passing of the referendum, the new project is said to create 4,500 jobs and $403 million in profit for tax relief for Nassau County residents.
Francesa spoke of how Charles Wang saved the Islanders on Long Island, the bad lease signed by previous ownership with SMG management and how no one else would find the team a worthy investment in their current situation. Charles Wang is a Long Islander and wants the team to remain on Long Island. When asked about why tax revenue of Nassau residents was put into the new arena planning and not his own financial resources to start, he stated that was the premise of the Lighthouse project, but he was continually met with resistance and the other parties could never agree to the details of the plan. When questioned about the misconceptions of development rights, Wang said he gets no development rights under this plan. The arena and development rights would remain with Nassau County. The Islanders would have a say in the details of the new arena and manage the facility. They would collect revenue for things like concessions, parking etc. No infrastructure modifications would be needed for a new updated facility. Wang added, “Through revenue sharing, the Isles will pay for the new building. The Islanders and Nassau County residents are partners with this unprecedented revenue sharing plan.” $14 million will be given back to county no matter what. 11.5% to County will be shared in gross revenue. Bottom line, Charles Wang will be paying for the new arena and absorb over budget expenses, should they arise when all is said and done.
The new arena would take approximately 30 months to complete according to Wang, based on the data gathered from the Prudential Center. 48 months remain in the existing lease the team has at the current version of the Nassau Veterans Memorial Coliseum. Time is limited to realistically complete the project. Charles Wang has stated that the Islanders will not remain in their current situation after the lease expires. Unless the project starts in full swing by next year, it will not allow the Islanders to remain on Long Island. Charles Wang has lost $230-240 million over an 11 year span as the owner of the Islanders, due mostly to the previous lease and poor condition of the facility. Even after all this time and money, he still believes his decision to purchase the team was the right one. “Long Island is my home and the Islanders belong on Long Island.” He is an owner committed to more than the bottom line. He is committed to his community and his home. He wants the Islanders to remain where they belong. It should not be forgotten that Charles Wang has never threatened to move his team, but if the plan isn’t voted in, he will be forced to consider all options.
Please vote Yes on August 1st.
Audio of WFAN broadcast are linked here:
http://ow.ly/5Obzl
Tomorrow, the Islanders will have a rally in support of the August 1st vote. According to the Islanders website, “The New York Islanders announced today that Long Island’s own, Blue Oyster Cult (with supporting act, Zebra) will play a free concert in support of a new arena on Wednesday, July 27. The show will start at 4 p.m. on the plaza outside of the Nassau Coliseum Box Office. Randy Jackson, the lead vocalist of the Long Island based band Zebra, will open. Islanders Players Matt Moulson and Ty Wishart will also be in attendance along with Islanders alumni.”
Tomorrow, the Islanders will have a rally in support of the August 1st vote. According to the Islanders website, “The New York Islanders announced today that Long Island’s own, Blue Oyster Cult (with supporting act, Zebra) will play a free concert in support of a new arena on Wednesday, July 27. The show will start at 4 p.m. on the plaza outside of the Nassau Coliseum Box Office. Randy Jackson, the lead vocalist of the Long Island based band Zebra, will open. Islanders Players Matt Moulson and Ty Wishart will also be in attendance along with Islanders alumni.”
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