The Islanders are moving to Brooklyn, according to a source.
The team is planning to make a "major announcement" Wednesday at 1 p.m. at the Barclays Center in Brooklyn, the team said on its website.
Those expected to attend the event are Islanders owner Charles Wang, Barclays Center majority owner and developer Bruce Ratner, Mayor Michael Bloomberg, NHL commissioner Gary Bettman, Brooklyn borough president Marty Markowitz, Islanders general manager Garth Snow and Barclays Center and Brooklyn Nets chief executive Brett Yormark.
The Islanders' lease at Nassau Coliseum expires in 2015, and Wang has spent the past several years trying to get a new arena built to replace it, but the plan was voted down. The Islanders averaged 13,191 in attendance at the aging Coliseum last season, ranking next-to-last in the NHL.
The Islanders were supposed to play a preseason game at the Barclays Center against the Devils on Oct. 2, but that was canceled due to the NHL lockout.
The newly built Barclays Center is home to the Brooklyn Nets.
The Islanders have not formally announced the move, but noted in its announcement of the news conference that the Barclays Center is "located atop one of the largest transportation hubs in New York City" -- and is "accessible by 11 subway lines, the Long Island Rail Road, and 11 bus lines."