Sources: Barclays Center Takes First Steps Toward Opting Out Of Deal With Islanders

Barclays Center has taken the "first preliminary step toward a potential opt-out of its 25-year deal with the Islanders," according to sources cited by Baumbach & Brodsky of NEWSDAY. Brooklyn Sports & Entertainment, which runs Barclays Center and the renovated Nassau Coliseum, recently "notified the Islanders in writing that the window to renegotiate the terms of the license agreement is open, as per the terms of the contract." The two sides have until Jan. 1 to "renegotiate the terms." If no new deal is reached, the two sides can "stay with the current deal or choose to opt out." Each side would have until Jan. 30 to "deliver an opt-out notice in writing." If the Islanders decide to opt out, the team can "choose to leave at the end of next season or the end" of the '18-19 season. If BS&E triggers the opt-out, the Islanders would "have to leave" after the '18-19 season (NEWSDAY, 5/9).