According to the Long Island Press, Islanders owner Charles Wang has quietly abandoned his Light House development plan that included a new home for the Islanders. Sean Leahy on Puck Daddy questions whether it might be just another political move in his attempt to get the project approved; seems to me if that were the case, Wang would be stating this publicly. But so far, Islanders brass has been completely mum.
I still would expect Wang to explore other Long Island-area options before considering selling or relocating the team.
Update: 19 hours after the story, Wang got around to denying it. Long Island Press stands by it.