This deal also hurts the Nassau Coliseum which is a county owned facility and just had a $260 million renovation completed. Lucky for the taxpayers that renovation was privately funded, but what is not so lucky is that 8% of the gross revenues, 12.75% of parking revenues, and $4 million per year in rent over a 34 year lease was going to the county.
Once the Belmont arena is built ~8 km away from Nassau Coliseum, the county now has a 2nd tier building. Would not be surprised if the lease agreement needs to be reworked or even if it leads to the demolition of the Coliseum.
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