SBD/17/Franchises

N.Y. POST REPORTS SALE OF ISLANDERS TO SPANO "CLOSER"

     While Dallas businessman John Spano and Islanders majority
Owner John Pickett have "settled most key issues" in the proposed
sale of the club to Spano, the two have yet to "hammer out fully"
all contract language, according to an unnamed NHL source cited
by Peter Botte of the N.Y. POST.  Spano: "There's not much I can
add except that it's just not done yet."  It is believed that
Spano has verbally agreed to purchase Pickett's 85-90% stake in
the team for "slightly more" than $80M.  Another source cited by
Botte said Spano will be back in NY next week and hopes to meet
with Nassau County Exec Thomas Gulotta about the prospects of
building a new arena to replace Nassau Coliseum (N.Y. POST,
10/17).
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Franchises, New York Islanders, NHL

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