Report: Isles can leave Barclays Center after three (or four) seasons

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In 2012, when the Islanders announced they were moving to Brooklyn, owner Charles Wang used the word “ironclad” in describing the team’s lease at Barclays Center.

Yet according to Newsday, there’s an opt-out clause in that lease, and here’s how it works:

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. The team just completed its first season in Brooklyn in May.

The opt-out clause can be triggered only if the two sides have engaged in “good-faith discussions” during the renegotiation window, according to the license agreement.

Newsday has more details and analysis, so be sure to click on the story.

It’s already been reported that the Isles’ new majority owners, Jon Ledecky and Scott Malkin, have been exploring the possibility of getting a new arena built for the club. The team’s first season in Brooklyn was a challenging one, and it remains to be seen if they’ll be there for the long run.