Deadline approaching for Islanders to reach deal

October 25, 2011 5:05:48 AM PDT
The deadline is fast approaching for the New York Islanders to reach a deal for a new arena.

NHL Commissioner Gary Bettman said on WFAN that the team must have a new building and must have concrete plans soon, with the lease at the Nassau Coliseum set to expire in 2015.

In August, Nassau County voters defeated a referendum that would have permitted the county to borrow up to $400 million to build a new arena and a minor league ballpark at the hub site.