Former MSG President Bob Gutkowski is fronting an investment group to buy the Islanders that consists of two execs in the music/entertainment industry – Bob Sillerman and Howard Tytel, The Post has learned.

Sillerman, a Long Island resident, is owner of SFX Entertainment, which is, among other things, in the concert business. If Sillerman buys Howard Milstein’s 45 percent share of the Isles, it would be independent of that company. SFX recently bought Gutkowski’s Marquee company – a sports and entertainment promotional agency.

Sillerman and Tytel, a Sillerman partner, have spoken to Nassau County officials about their interest, and the status of new arena negotiations. It is believed Milstein will sell his share even if his winning $800 million bid to buy the Redskins is turned down March 16.