The Islanders could leave the Barclays Center after just three seasons in Brooklyn if the team triggers an opt-out clause in its license agreement, according to a summary of the pact obtained by Newsday.
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 details of the opt-out clause come from a six-page summary of the Islanders’ agreement with Barclays Center. The document was included in the arena’s 1,000-page plan to refinance the municipal bonds that were sold a decade ago to build the arena.