The 1988–89 season saw the Islanders win only seven of their first 27 games. Torrey fired Simpson and brought Arbour back. Arbour was unable to turn things around, and the team finished with 61 points, tied with the Quebec Nordiques for the worst record in the league. It was their first losing season and the first time missing the playoffs since their second season. Smith, the last remaining original Islanders player, retired after the season to become the team's goaltending coach. Not long after the end of the season, Pickett moved to Florida and turned day-to-day operations over to a committee of four Long Island entrepreneurs: Ralph Palleschi, Bob Rosenthal, Stephen Walsh, and Paul Greenwood. In return, they each bought a 2.5% interest in the team. In the next season, the Islanders rebounded to get back into the playoffs, but fell to the Rangers in five games of the opening round. The team bought out the remaining years of Bryan Trottier's contract, sending him off with a team record of games played. The 1990–91 season had the team finish well out of the playoffs after winning only 25 games.
The 1988–89 season saw the Islanders win only seven of their first 27 games. Torrey fired Simpson and brought Arbour back Arbour was unable to turn things around, and the team finished with 61 points, tied with the Quebec Nordiques for the worst record in the league. It was their first losing season and the first time missing the playoffs since their second season. Smith, the last remaining original Islanders player, retired after the season to become the team's goaltending coach. Not long after the end of the season, Pickett moved to Florida and turned day-to-day operations over to a committee of four Long Island entrepreneurs: Ralph Palleschi, Bob Rosenthal, Stephen Walsh, and Paul Greenwoo.d. In return, they each bought a 2.5% interest in the team. In the next season, the Islanders rebounded to get back into the playoffs, but fell to the Rangers in five games of the opening round. The team bought out the remaining years of Bryan Trottier's contract, sending him off with a team record of games played. The 1990–91 season had the team finish well out of the playoffs after winning only 25 games.