UNIONDALE, New York (WABC) -- Nassau Coliseum, which has not hosted an event since March, will reportedly be closed indefinitely by its owner.
Bloomberg first reported that billionaire Mikhail Prokhorov's company plans to close the arena while it seeks new investors to take it over and assume the remaining debt.
"I was very disappointed to hear this but I can't say that I was surprised," Nassau County Executive Laura Curran said.
The stunning move not only displaces the New York Islander's hockey franchise, but it also puts the $1.5 billion hub redevelopment project in jeopardy.
"We will handle it, we will look at all of our options and I do remain optimistic for our future," Curran said. "This hub project overall is so important for our economic recovery that I am doubling down my commitment to make sure that we make it happen."
As for the Islanders, the team moved to the Barclays Center during the arena's renovation, but were slated to return to Nassau County for all homes games in the upcoming season.
The team's new arena at Belmont Park isn't expected to open until the 2021-2022 season.