Storyline: James Dolan Selling Knicks?

12 rumors in this storyline

Before heading off to an event, Silver addressed a persistent rumor that is on the mind of every New York basketball fan: Will owner James Dolan sell the Knicks? The exec was slightly less outspoken with his response. “I have no reason to believe he is going to sell the Knicks because it’s a public company and he said he’s not selling the Knicks,” he offered.

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Oakley: Bezos wants to buy Knicks

Aspiring chef Charles Oakley just served up some juicy NBA gossip regarding the Knicks. Last week during a pilot The Ringer filmed called “Tough Chef with Charles Oakley,” the former Knicks big man said Amazon CEO Jeff Bezos is interested in buying the team. “I heard that. Jeff Bezos wants to buy the Knicks,” Oakley told The Ringer’s Bill Simmons and Jason Concepcion. “He was going to try Amazon in Long Island, and he went to Virginia. He still (wants) to do some real estate in New York. Why not buy the Garden?

James Dolan, the owner that Knicks fans love to hate, may be laying the groundwork for a sale of the franchise. Shares in Madison Square Garden Co. soared on the news. Late yesterday Dolan announced he was exploring a spin-off that would separate the Knicks and the Rangers from the rest of Madison Square Garden. While Dolan would remain in charge of the teams, at least at first, putting them together in a separate public company would offer him the chance to whittle down his stake easily if he chooses. Dolan is understood to be more interested in music and building cutting-edge entertainment venues than sports. “He wants to be more Elon Musk than George Steinbrenner,” an analyst told Crain’s in an article last month.

It’s been a trying week, so let me treat you to something nice. Watch the stock price for The Madison Square Garden Company do a little jig over the last two days: What could explain this spike? Probably the announcement, late Wednesday, that James Dolan, chairman and CEO of MSG, is considering spinning the Knicks and the Rangers off into a separate company, which would smooth the path for an eventual sale of both teams, per a Crain’s report. This suggests that there may be a day, perhaps even in the not-so-distant future, when those teams are no longer owned by James Dolan. The aspiring bluesman, profiled by our own Dave McKenna in 2016, is said to be bringing his business life in alignment with his true passions.
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