SMG lease agreement chokes the life out of the NY Islanders for decades
Two years before Daly's prophetic address to Nassau, the NHL attempted to approach SMG to abate the stranglehold that was choking the life out of the NY Islanders. It failed. By 2000, Nassau Coliseum was already considered an antiquated venue. The lease agreement was considered the worst in all of sports.
Even back in 1998-99 the Islanders were hemorrhaging $40 million per year. In fact, SMG's refusal to change, or revise the lease despite requests for years and years has without a doubt led to the Isles are leaving.
By the time they finally reworked that lease agreement under the last gasp of Nassau Executive Thomas Suozzi, it was far too late.
How did this happen?
When he was Hempstead Town Supervisor, Alfonse D’Amato gave Hyatt Management (who would become SMG) a 5-year contract to run the Coliseum. D'Amato cited that Nassau would reap a profit with this deal. He was dead wrong.
The building lost money in those years.
Despite all this, Nassau County Executive Francis Purcell then extended the Hyatt deal. Purcell had a vision in expanding the sports and entertainment potential around that area, which could be seen in his success with the conversion of Mitchel Field.
However, Purcell clearly had his faults that are exemplified by what his opponents cited during his tenure as Nassau Executive:
"His administration has been marked by an absence of planning and concern for what's going to happen tomorrow,''
– Martin Mellman, the Nassau Democratic leader, NY Times on December 28, 1986.
That absence of planning and vision hurt the NY Islanders. SMG's stranglehold on that lease deal finally had Bill Daly address Nassau County, and Democrats and Republicans alike....
Did nothing.
It wasn't until Charles Wang came along, who was vetted by... once again... Alfonse D'Amato. D'Amato also deep-sixed an alternative ownership group headed by former MSG Bob Gutowski. Instead he matched Wang to the position as owner, and then later... Turned on Charles when he tried to push him to hire his brother during the Lighthouse Project.
When I spoke to former Nassau Executive Thomas Suozzi to discuss the wreckage of the Lighthouse Project and failed referendum, he lamented on not forseeing those issues and convince Charles to hire D’Amato’s brother.
He felt that it might have avoided the pay-to-play churn that reverberated back from Republican honcho Joseph Mondello and his pal, Alfonse.
You see, we can all point at Kate Murray and the Town of Hempstead, because on paper that is exactly where the Lighthouse Project died. However, according to political operatives, Murray and the Town of Hempstead has always been the Republican machine’s political tool.
Per those sources: If any TOH head has any future political aspirations, they follow directions.
Notice that Islander’s season ends and right as they are leaving town Kate Murray is going to run for Nassau DA.
There are NO coincidences.