News of the sale of the New York Islanders to Computer Associates' Charles Wang and Sanjay Kumar put an end to months of speculation about the team's future, but the announcement of their purchase has clarified few if any of the other questions that have been swirling around the team and its arena for the past several months.

In a press conference held earlier this week at the Garden City Hotel, Wang and Kumar announced that they had bought the fledgling National Hockey League organization for $190 million. The new ownership would not, however, elaborate on any issues involving SMG, the coliseum's operators, a new arena or the development of the surrounding Nassau County property.

The team has had four owners in the past eight years, has not made the playoffs since 1994, and has been continually losing money for several years. Since the organization's fiscal problems became evident, the county's lease agreement with SMG has come under harsh criticism.

During hearings held by the County Legislature earlier this month, an NHL representative termed the SMG lease as being "atypical" of most in the NHL. He continued to say that as long as the current lease was in place and a new arena not built, the team would not be "a viable business institution."

Despite such warnings Wang and Kumar proceeded with the purchase and only indicated that they would be meeting with SMG after approval of the sale is confirmed by the NHL.

The county executive lauded the sale of the team. "This is great news for sports fans and taxpayers on Long Island," said Thomas Gulotta. "Mr. Wang's and Mr. Kumar's ownership will ensure that Nassau County will remain the home of the Islanders and that we can restore the legacy of this great team."

Presiding Officer Judy Jacobs, a long-time Islanders season ticket holder, likewise expressed her approval of the deal. She stated she was impressed with the sincerity of Wang and Kumar and what it meant to them.

"I share their view that economically for Long Island, it was a must that we keep this team," said Jacobs. "So I think it is a win-win for Nassau County."

According to county watchers, the next step concerning the Islanders should be a new arena. The current Nassau County Veterans Coliseum is viewed by many as being obsolete, deficient of the many revenue producers of newer arenas. Although Wang and Kumar would not discuss the possibility of a new arena, many agree that it is in the cards.

"I do not think that given Mr. Wang's and Mr. Kumar's business acumen and rate of success that they have overlooked the need for a new arena," said Legislator David Denenberg, who is the chair of the county's Planning, Development and Environment Committee.

Published reports have also indicated that Wang and Kumar could join forces with SMG to develop the surrounding area around the Coliseum, which could include a convention center and hotel.