The Veterans Memorial Coliseum, home to the New York Islanders National Hockey League franchise, will receive an extensive overhaul costing in the region of US$320 million.
The renovation of the arena comes as part of a US$3.8 billion project that will also see offices, a hotel and a convention centre built around the arena by the Nassau County government. The Islanders will pay an annual rent of around US$1.5 million.
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The Islanders, one of three metropolitan New York franchises in the NHL along with the Rangers and the Devils, won four consecutive Stanley Cups between 1980 and 1983, but have not secured the trophy since.
The Coliseum, located some 19 miles east of New York City, has a capacity of 16,000 and was built in 1972 at a cost of just over US$30 million. As well as the Islanders, it has played host to a number of other teams across a variety of sports, including the New York Nets before the NBA franchise’s 1977 move to New Jersey.