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Charles Wang 'not giving up' on Long Island despite rejection of new arena

MINEOLA, N.Y. - The owner of the New York Islanders says he's "not giving up on Long Island" after voters rejected a plan to borrow US$400 million for a new hockey arena.

Team owner Charles Wang says in a statement Wednesday that he has two goals for the Islanders: winning the Stanley Cup and staying on Long Island.

The Islanders' lease at the Nassau Coliseum expires in 2015.

In a referendum Monday, Nassau County voters rejected a plan to replace the 39-year-old coliseum. The plan also included development of a nearby minor-league ballpark and possibly an indoor track and field facility.

Some have suggested that Wang could move his team to the new arena being built in Brooklyn for the NBA's Nets, or to eastern Long Island.

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