The arena deal is dead. Long live the New York Islanders? Maybe. After last night's drubbing at the polls, the question from Ronkonkoma to Trois-Rivieres is, what's next for the once-proud Isles?

Will "heartbroken" owner Charles Wang sell the team? Or will he move it in an effort to recoup some of what he claims are $240 million in losses in the 11 years since he bought it? At this point, only one thing seems certain: The Islanders will leave Nassau Coliseum when their lease expires in 2015. Where they end up is anyone's guess, although there are really only two viable options. And one of them -- the only one that can definitely have the moribund franchise in a brand-new, world-class arena four years from now -- is smack in the middle of New York City.