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ISLES SALE FINALIZED AFTER BETTMAN BROKERS COMPROMISE

          "After nearly two years of false starts and hard
     bargaining, the Islanders finally got new owners yesterday"
     as New York Sports Ventures (NYSV), a group headed by Steven
     Gluckstern and Howard Milstein, closed on a $195M deal to
     buy the team from the Pickett family, according to Ken
     Moritsugu of NEWSDAY.  The sale was consummated when the
     buyers prevailed in a "deal-threatening" dispute with PA-
     based Spectacor Management Group, which runs Nassau Coliseum
     and had to approve the sale.  The disagreement was resolved
     yesterday after NHL Commissioner Gary Bettman "called the
     warring parties into his Manhattan office to broker a
     compromise."  SMG President Wes Westley said that his
     company had dropped its demand for a signed guarantee that
     it was not in default of its contractual responsibilities at
     the Coliseum "after reaching a handshake agreement with
     Milstein that the new owners did not intend to try to force
     SMG out."  Westley said the groups will work to "address"
     the Islanders concerns at the Coliseum and "move forward
     towards a new arena."  Milstein: "I gave them my personal
     assurance we would treat them fairly" (NEWSDAY, 2/26).

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