Well - 12 years of the Mad Mike era is gone.

Statement from NewYorkIslanders.com

Mike Milbury has resigned his position with the Islanders as Senior Vice President of Sports Properties but will stay on as an advisor to Islanders owner Charles Wang.

After stepping down as general manager in January, 2006 Milbury took on a leading off-the-field role in the front office of Wang’s sports teams, the Islanders and the Arena Football League New York Dragons, along with charitable efforts such as Project Hope – a youth hockey initiative in China – and fundraising activities for the New York Islanders Children’s Foundation.

“Charles gave me the opportunity of a new challenge for the last 18 months and I enjoyed every minute of it,” Milbury said this afternoon. “I’m very proud of our staff and the strides we made last season in corporate sales, customer service and community relations. Although it’s time for something different for me, I appreciate the challenge of continuing the work we started with Project Hope and the Children’s Foundation, among other projects.”

In a statement released today, Charles Wang cited Milbury’s role in the revival of the franchise when he purchased the team in 2000:

“Mike remains a close friend and advisor to all of us in the Islanders family and I look forward to continuing to work with him,” said Wang.

“Mike played a major role in getting the Islanders back to the Stanley Cup Playoffs three years in a row. Before I purchased the franchise and provided Mike with the stability and resources he never had in his early tenure, the Islanders were out of the playoffs for almost a decade. Worse than that, most years they didn’t even have a chance when the season started. It was Mike who made the aggressive moves that put the Islanders back on the NHL map. Mike is also responsible for the Islanders careers of some of our fan favorites, including Rick DiPietro, Jason Blake and Trent Hunter, among many others.

“Thank you, Mike, for all of your efforts on and off the ice during our seven years together.”

Well - half of me says good riddance, and the other half says good luck.  More on this over the next week.