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Sources: Oak View Group Interested In Running Nassau Coliseum

Oak View Group, which will operate the Islanders' new arena at Belmont Park, has "expressed interest to Nassau County officials in potentially running NYCB Live's Nassau Coliseum," according to sources cited by Baumbach & Ferrette of NEWSDAY. Sources said that OVG is "willing to run the Coliseum either on a short-term or long-term basis in an effort to help Nassau as it determines the future of the 14,500-seat county-owned arena." Their interest in the Coliseum also is "spurred by a desire to keep the Islanders on Long Island for one more season before their Belmont arena is scheduled to open" in '21. The Coliseum is "closed indefinitely" after Mikhail Prokhorov announced last month his company, Onexim Sports & Entertainment, is "seeking investors to take over the arena lease and assume the remaining" $100M in debt. Sources said that several "significant obstacles remain in the way" of OVG's interest in the Coliseum, beginning with the $100M debt that remains after Onexim's $180M renovation of the arena. Sources said that OVG is "not interested in taking on such debt" (NEWSDAY, 7/10).

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