ISLANDERS SALE TO SPANO COMPLETE; AWAITS NHL APPROVAL

          Upon the announcement of the completion of the sale of
     the Islanders to TX-businessman John Spano, NHL Commissioner
     Gary Bettman said an approval vote by the NHL Board of
     Governors may come in "less than a handful of weeks" and
     that Spano could "provide a foundation" for the team to
     build on, according to NEWSDAY's John Valenti.  The deal is
     "believed" to be worth $165M, $30M for the team, $50M in
     debts and $85M for cable rights.  The deal has been delayed
     due to ongoing negotiations with SportsChannel.  Sources say
     the cable TV deal, which pays the Islanders about $13M a
     season, has been extended from 2010 to 2031 (NEWSDAY, 1/23).