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MELVILLE, N.Y. -- New York Islanders owner Charles Wang says he regrets buying the money-losing NHL team nine years ago.

"If I had the chance I wouldn't do it again," Wang told Newsday.

Citing the team's annual audited financial reports, Newsday reported Saturday on its Web site that Wang has spent $208.8 million -- an average of $23 million per year -- to keep the team operating. He also spent $74.2 million when he and Sanjay Kumar bought the club and assumed $97 million in liabilities.

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WOW Holy Money Pit Batman!

I don't really thing that a new arena is going to fit the bill for the Islanders. Simple matter is that there are just in a bad spot. In near vacinity are the Rangers and Devils, I just can't see them turning it around and drawing back fans.

 

[SabresFan101]

who would by islanders they need to prove next season by probabley get a winning streak going. that would be a good start for them. And also they need some people who can score. And people who can find the open man [playmaker]

 

[Token]

WOW Holy Money Pit Batman!

I don't really thing that a new arena is going to fit the bill for the Islanders. Simple matter is that there are just in a bad spot. In near vacinity are the Rangers and Devils, I just can't see them turning it around and drawing back fans.

Winning changes everything around. They do not need a new building, they need a winning team. The building will draw fans for the first few years.

Also, having the rangers and devils by us is not a big deal. We have been through the worst management in the history of the NHL and still have die hard and knowledgeable fans. Being in a bad spot is not it.

Long Island needs the Lighthouse not the Islanders. It will jump start our economy and will also provide us state of the art venue and facilities that will be a main attraction on Long Island

We also could sell out every game and will still not break into the top 20 attendance in the league. We are not last though, when looking at attendance you must look at capacity since every arena holds different amount of seats