New York Voters Reject $400M Arena Plan for Islanders

A proposal to spend $400 million on an overhaul of New York's 39-year-old Nassau Veterans Memorial Coliseum was defeated by referendum voters Monday, 57 percent to 43 percent. In addition to revitalizing the home of the NHL's New York Islanders, the plan called for construction of a minor-league ballpark and convention space.

"I'm heartbroken that this was not passed," Islanders owner Charles E. Wang, who had fought for a new or refurbished arena for almost a decade, said in a statement, refusing to specifically address his next move. "We're committed to the Nassau Coliseum until the year 2015 and like we've said all along, we will honor our lease."

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