SBD/15/Franchises

ISLANDERS' BUYER GLUCKSTERN GETS GOOD REVIEWS FROM MEDIA

          The Islanders introduced Coyotes co-Owner Steven
     Gluckstern as "the newest would-be owner" of the team on
     Friday, according to John Valenti of NEWSDAY.  Gluckstern
     and partners, New York Sports Ventures, signed a letter of
     intent for the team and its cable TV package worth $195M. 
     Islanders GM Mike Milbury: "The last guy who came in here
     brought enthusiasm.  This guy brought cash with him, too." 
     Valenti: "Not to mention a stage presence, sense of humor
     and human touch that was noticeably lacking in the often-
     dour [John] Spano."  Gluckstern said that of "significant
     appeal" to him and his partners in the purchase was the
     chance to redevelop the 70-acre Mitchel Field parcel at
     Nassau Coliseum.  Gluckstern: "This is about three things
     that were attractive to us.  The franchise, a unique
     television contract and the 70 acres we're sitting on top of
     now."  New York Sports Ventures also includes "two major" NY
     real estate developers, Howard Milstein and Stephen Ross, as
     well as NY businessman Dan Doctoroff.  The group hopes to
     have the deal approved by the NHL Board of Governors by
     December, but a league source said Friday that a "more
     realistic timetable" would be January (NEWSDAY, 9/13). 
     Brett Pickett, son of current Isles Owner John Pickett, will
     continue to operate the club until the end of the year
     (Michael James, N.Y. DAILY NEWS, 9/13).  
          RAVE REVIEWS: NEWSDAY's Fessenden, Valenti, et al.
     write that Gluckstern "heads what may be one of the most
     overqualified ownerships in the most blue-collar of
     professional sports."  Islanders co-Chair & CEO Bob
     Rosenthal: "Gluckstern is a no-nonsense man.  He's already
     in the business, he wanted the Islanders, he negotiated in a
     very fair way, a very tough way" (NEWSDAY, 9/14).  NEWSDAY's 
     Steve Jacobson: "[I]mmediately, there is stability for a
     team that is now growing into a competitive level after
     nearly 10 years in the doldrums" (NEWSDAY, 9/14). 
          SLOW TRACK: Gluckstern said it will take five years to
     replace the Nassau Coliseum, but NEWSDAY's Ken Moritsugu
     wrote that the tentative sale "has renewed hope among"
     Nassau execs for a "private sector-led major redevelopment
     of the Coliseum property in Uniondale, including a new
     arena, an exhibition hall, a hotel and sports and
     entertainment-related retail stores" (NEWSDAY, 9/13).
          COYOTES UPDATE: In AZ, Coyotes CEO Richard Burke, on
     losing Gluckstern: "Things will not change, as far as the
     operation goes. ... But my role will lesson."  The
     REPUBLIC's Tim Tyers: "Perhaps a bigger question is whether
     the ownership change will also affect the Coyotes'
     relationship with Suns President Jerry Colangelo.  His
     management company hold the Coyotes' lease at America West
     Arena."  Burke said that any talk about a possible move out
     of America West Arena is just talk, "at least for the near
     future" (Tim Tyers, ARIZONA REPUBLIC, 9/13).
            
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug