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).
