The Islanders, who played at the Coliseum from 1972-2015 before moving to Brooklyn, are planning to have the Belmont arena ready for the 2021-22 season.
It has not been determined where the Islanders would play Stanley Cup Playoff games between next season and the spring of 2021. Brooklyn Sports & Entertainment operates both Barclays Center and Nassau Coliseum.
"I think it's great for our fans," Islanders co-owner Jon Ledecky said after a press conference at the Coliseum. "I'm on a listening campaign with the fans every game at Barclays. I walk the concourses, I see them before and after the game. The No. 1 thing they say is, 'Please, Mr. Ledecky, during this period, can you bring the team back to the Nassau Coliseum?' I think (co-owners) Scott Malkin, Dewey Shay and myself have listened to that, and this opportunity presented itself with the folks from Brooklyn Sports & Entertainment. We decided that it was worth taking a look at.
"Kudos to (NHL) Commissioner Bettman and his staff for coming out and taking a serious look at it, and then making recommendations for what needs to be improved. I'm sure in the weeks ahead, you'll be hearing about the improvements that were alluded to to make this an NHL-acceptable facility."
Nassau Coliseum's lack of amenities is the biggest reason why Islanders home games will be split between Barclays Center and the Coliseum, according to Ledecky.
"It comes down to the fact that we want to maintain a (salary) cap-max team," Ledecky said. "To do that, you have to maximize your revenues. If you look around here, suite revenues, club suites, food, beverage, etc., they're not as accessible as they are at Barclays Center. From a financial standpoint, I think we reached an accommodation that works for everybody."
Nassau Coliseum underwent $165 million in renovations after the Islanders moved out in the spring of 2015 and reopened in April 2017. The Islanders returned to a play a preseason game against the Philadelphia Flyers on Sept. 17, which they won in overtime on a goal by center John Tavares.