Could be a building. But I like the idea of an additional island. :3
On the Ethereal thread, Pony said the tournament is on ice. Maybe I'm just over-analyzing it.
It looks like a funky looking building, from how the very top seems like a roof. They are wearing costs so it has to do something with ice. Perhaps a new island, but I'm sure a new building will be included somewhere. Guess it means ill want to break my rule and invest in some gold. Whatever everything turns out to be, it WON'T all come cheap.