Islanders Will Face Franchise's Turning Point This Summer

No, it isn't a summer movie blockbuster, but a storm is brewing off the shores of Long Island and it's going to make a direct hit on land in the coming months. The New York Islanders and the Nassau Coliseum are at the eye of the storm. By the time the team takes the ice again in October, we'll be able to assess the damage.

For the first time in recent memory, the Islanders have a chance to significantly change their fortunes for the better in one fell swoop. However, if they make the wrong choices, they could set the franchise back a decade or possibly to Kansas City, Hamilton or Parts Unknown.

There are three significant story lines to watch this summer on Long Island, and they all will have a significant impact upon the long-term health and viability of the franchise.

The Approval of the Lighthouse Project

Owner Charles Wang has set a deadline of the start of the 2009-10 season for which a resolution to the fate of the Lighthouse Project (part of which is renovating the Coliseum) must be reached. After that, he may move or sell the team. He's been trying to gain approval for the project for most of the decade and, understandably, his patience is at an end.

This project is the "end all, be all" of the Islanders in their current locale.

If the project is approved, they can break ground and significantly improve their economic situation, which is likely the worst in the NHL at the moment. For example, they split their ticket revenues -- one of the most important revenue streams for any team -- in thirds with Nassau County and SMG.

If the project is denied or continues to get hung up in New York's partisan politics vortex, Wang could finally run out of patience and either move or sell the team. The general consensus is that he is losing at minimum $20 million per year by owning. At this point, you really can't blame the guy if his patience does run out.

Wang is also the last and best hope for the Islanders. As the team saw during the 1990s, there are likely no other viable options to own the team. Time and time again ragtag ownership groups stepped up but none had the capital to put up with a building that is a black hole for money and the finances of a sports team. Wang is putting up millions of private dollars to finance the project and hasn't made any threats of relocation until recently.

The No. 1 Overall Pick in the 2009 NHL Draft

On Tuesday, the Islanders won the draft lottery and gained the right to select first at the draft in June. Coupled with the Lighthouse Project, this pick gives the team the opportunity to help themselves economically both on and off the ice. No matter who they select, the player will likely have a positive impact on the on-ice product, which in turn will sell tickets and maybe help attain those all important playoff dollars. If the team takes an offensive stud like John Tavares, that will only help their gate receipts no matter their place in the standings.

The Health of DP

Rick DiPietro was instantly made the face of the franchise when he was signed to a 15-year contract in 2006. Without him, the Islanders aren't a bad team -- they're absolutely atrocious. That was proven this past season when DiPietro's injury (along with a host of others) destroyed a roster that many nights looked like it belonged in the AHL. The health of DiPietro will only further aid the team's on-ice play and playoff aspirations or derail them.

The End Results

Add all three of these outcomes together -- a healthy DiPietro plus an as-advertised John Tavares and a new arena -- and all of a sudden the Islanders are a serious NHL franchise both on and off the ice. They not only move into an economically viable arena but also dramatically increase their sales at the gate and merchandise stands.

Of course, if things go the other way they could be in a world of trouble. An injured DiPietro, a botched day at the draft and no progress on a new arena would set this franchise back another decade. They would have DiPietro's contract stuck on their cap, all the bad press in the world (again) and, maybe, have to close up shop and move elsewhere.

This summer is this big for the team.

Remember a few years back when the Penguins were the worst team in the NHL and threatening to move to Kansas City? Now, they're getting a new arena and heading back to the playoffs after being the runners-up last spring. The Islanders are in the same predicament the Penguins were back then. This summer, we'll see if they can follow the same path.