Brooklyn may end up only a footnote in the history of the New York Islanders.
The club has an opt-out clause in its 25-year agreement with Barclays Center that kicks in after three seasons, reports Newsday's Jim Baumbach.
The Islanders' 2015-16 season was its first in Brooklyn. It's been so far, so good, as New York won its first playoff series since 1993, eliminating the Atlantic Division-winning Florida Panthers in six games.
Newsday obtained a summary of the agreement between the Islanders and Barclays Center, Baumbach writes:
The summary also reveals an approximate six-month window for the two sides to renegotiate the 25-year license agreement and mandates "good-faith discussions" from both sides before either can opt out. ...
The summary outlines the process involved in triggering the opt-out. After the Islanders finish their second season in Brooklyn, the two sides have until Jan. 1, 2018, to renegotiate the terms of the current deal. If no new deal is reached, the two sides can stay with the current deal or choose to opt out. Each side would have until Jan. 30, 2018 to deliver an opt-out notice in writing.
If the Islanders decide to opt out, the team can choose to leave at the end of either its third or fourth season. If Barclays triggers the opt-out, the Islanders would have to leave after the fourth season.
Almost as interesting as the opt-out clause is the fact the NBA's Brooklyn Nets have priority over the Islanders with respect to scheduling home games, according to the report.
The Islanders pay Barclays Center $2 million annually, while Barclays Center pays the Islanders $53.5 million annually, with that figure going up 1.5 percent each year.
The long-term deal isn't a great one for the Islanders, according to the experts Newsday spoke to.