Mike Milbury resigned as the New York Islanders vice president of sports properties Tuesday, continuing his steady withdrawal from the team's operations since he stepped down as general manager during a January 2006 shakeup. He will remain as an adviser to Islanders' owner Charles Wang. "Charles gave me the opportunity of a new challenge for the last 18 months and I enjoyed every minute of it," Milbury said in a statement released by the team. He had an off-field role in running Wang's sports properties, the Islanders and the New York Dragons of the Arena Football League, as well as the franchise's charitable efforts. Before Milbury resigned as GM, he had worked under four ownership groups, hired six coaches and had two stints behind the bench. "Mike remains a close friend and adviser to all of us in the Islanders family and I look forward to continuing to work with him," Wang said.