The Saddledome is one of the oldest arenas in the NHL, fueling speculation that it is due to be replaced. Only Madison Square Garden in New York City and the Nassau Veterans Memorial Coliseum in Uniondale, New York are older than the Saddledome; however, both arenas underwent major renovations in the 2010s, and the New York Islanders are scheduled to move to UBS Arena in Elmont, New York once it is completed in 2021. Flames president and chief executive officer Ken King said in 2008 that plans for a new arena were "five to eight years away" creating the expectation that the team hoped to have a new arena built for when their lease was due to expire in 2014, but such plans never came to fruition. Team chairman Murray Edwards argues that the ability of the facility to host major events and concerts is growing increasingly limited as the facility ages. Along with Edwards, sports financial analysts note that newer arenas generate far more revenue for their teams than the Saddledome does for the Flames.