Another situation that bears watching is the New York Islanders. Reports that owner Charles Wang is ready to walk away from the franchise appear to be a little premature, but there is little doubt he is running out of patience. The Lighthouse Project, which would have given the Islanders a new arena and revitalized the area, looks like it will be scaled back considerably if it even sees the light of day.

Wang has lost millions over the past 10 years and might not be willing to wait another 10 years to get a new building. Waiting in the wings is New York Mets owner Jeffrey Wilpon, who could buy the team and move it to a new arena near the Mets’ new Citi Field.