Wang: Islanders will be here, at least to 2015

Islanders owner Charles Wang Tuesday said that the team will remain on Long Island until 2015 - when its lease with Nassau Coliseum runs out.

"We have a lease until 2015 and we're going to be here until 2015," Wang told a news conference at the Coliseum. "We'll look at other options but right now our focus is on the hockey season."

He said there were no new developments with the Lighthouse Project, considered the key for the team to remain on Long Island. Wang has seldom spoken publicly about the stalled project - a massive redevelopment plan to the outdated Nassau Coliseum and revitalize the surrounding area - and he didn't seem optimistic about it.

Wang said there has "been no progress" between him and Town of Hempstead Supervisor Kate Murray and voiced skepticism about the town's scaled-back version of his plan, submitted in July. Wang said he doesn't believe the counter-proposal - estimated to trim the project to 25 percent of his original plan - was "economically viable."

According to Town of Hempstead spokesperson Mike Deery, Murray has made an invitation to Wang to discuss the newest revision.

With the project floundering, the possibility of relocation grows stronger. Newsday exclusively reported in May that Mets chief operating officer Jeff Wilpon has interest in bringing the team to Queens and building a new arena adjacent to the Mets' Citi Field.

Wang will likely investigate several relocation possibilities, but he affirmed his commitment to Long Island.

"I want to keep this professional team on Long Island," Wang said. "That's where we belong."

Wang also said he is still willing to sign top-shelf talent, despite the uncertainty over the team's future location and his mounting personal losses.

"We've never said we wouldn't," Wang said. "We'll do everything we can to put the best product on the ice."

Wang also shelled out $250,000 this summer for some Coliseum renovation that included a new player's lounge.

Islanders general manager Garth Snow said Wang has always been receptive when presented with an opportunity to improve the team either through free agency or trade, but the antiquated Nassau Coliseum has put the team at a disadvantage when courting players.

"If you could stay at the Ritz-Carlton or the Motor Lodge for the same price, which would you choose?" Snow joked. "It does have an effect."