Sport Knicks Owner James Dolan - "We’re not going to sell"

20:10  10 august  2018
20:10  10 august  2018 Source:   readsport.co

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Whether deserved or not, Knicks fans blame the plight of New York’s team on James Dolan , who as executive chairman of Madison Square Garden Co. , and its majority owner , has final say on the team’s direction. Also read: In the NBA, teams don’t have to be good to make a lot of money.

James L. Dolan wearing a suit and tie: New York Knicks Press Conference © Maddie Meyer/Getty Images Sport New York Knicks Press Conference

While for many fans of the New York Knicks and Rangers it would be a dream come true that owner James Dolan would sell up, it doesn’t look like it is going to happen any time soon.

Back in June the Madison Square Garden Company executive chairman said he was looking to separate the Knicks and Rangers franchises away from the rest of the Madison Square Garden Company, leading many to believe he was looking to sell up.

Talking about the proposal at the time Dolan said, “We believe this proposed transaction would provide each company with enhanced strategic flexibility, its own defined business focus and clear investment characteristics.”

The news at the time also saw a rise in MSG’s stock by almost 20%, but in a recent appearance on , Dolan told the hosts “We’re not going to sell.” shortly before debuting his new song about his friend, disgraced Hollywood producer Harvey Weinstein, titled “I Should’ve Known.”

Knicks were recently valued at $3.6 billion and Rangers at $1.5 billion, despite their lack of success in recent years.

Along with Knicks and Rangers, MSG also owns the WNBA’s New York Liberty, NBA and NHL minor league affiliates, and a regional sports network.

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