1:02pm: As was the case in December, MSG Co. has issued a statement refuting the idea that there are plans to sell the Knicks (Twitter link via Stefan Bondy).
“The story is 100% false,” the statement reads. “There has been nothing. No discussions. No plans to have discussions — nothing.”
12:13pm: After Knicks owner James Dolan indicated in December that he wouldn’t rule out the possibility of selling the franchise, a new report suggests that he may actually be seriously considering that idea. As Tommy Beer of Forbes.com relays, Bill Simmons of The Ringer said in his latest podcast that Dolan is “courting offers” for the Knicks.
“Multiple people told me this, who know things,” Simmons said. “… It’s happening. It’s on. It’s go time. He’s courting offers for the Knicks. That’s what I heard at All-Star weekend from people I trust.”
Stefan Bondy of The New York Daily News notes that there have been rumblings for months that Dolan has been considering the idea of a sale, but if he’s actively seeking out offers, that would be new territory.
Last year, Madison Square Garden Co. announced plans to separate the sports and entertainment aspects of its business, which means that the Knicks could be sold without Madison Square Garden being part of the deal. In that scenario, Dolan could theoretically retain control of the live entertainment business, including venues like MSG, the Hulu Theater, and Radio City Music Hall.
Simmons’ comments suggest that those aspects of the business may be of greater interest to Dolan than controlling the Knicks long-term.
“This is what I’ve pieced together,” Simmons said, according to Beer. “[Dolan] really cares about the buildings and the in-game/in-concert experience. And he wants to put even more money into that. The Knicks are just a pain in the a–, people s–t on him for it. He feels if he can just sell the Knicks for some crazy price, then he can put the money into that music/in-game experience stuff that he cares about. So, the Knicks are available.”
In the wake of his December comments stating that he wouldn’t rule out the possibility of selling the Knicks, Dolan quickly released a statement clarifying that there were no plans to sell the team. Two months later, with rumors swirling again, it wouldn’t be shocking if he issues a similar denial. If he doesn’t, it would strongly signal that Simmons is onto something.
For what it’s worth, Forbes’ most recently NBA franchise valuations – published earlier this month – estimated the Knicks’ worth at $4 billion. The team ranked first on Forbes’ list of most valuable NBA franchises, and became the first basketball club to ever earn a $4 billion valuation.
Wow if he actually does , it’s a win all around. Dolan walks away with like a billion dollars and the knicks (hopefully) get some competent ownership
If the Clippers sold for more than valuation I’m sure the Knicks will too. Take the pistons for example. They don’t have an arena of their own. It’s owned by the Illich family and is shared with the Red Wings. The Pistons are still worth over 1.25 billion. I imagine if selling the Knicks it would command a price of something more than its $4 billion valuation.
The Forbes evaluations had the knicks value at like 3.5 billion
Damn I didn’t do any research give me a break haha
wall street noise. knicks remain a staple in msg portfolio, maybe a chinese buyer offers 18B for everything – dollan sells and goes touring with his rock n roll band
As much as everyone wants this, when has Bill Simmons ever been an inside source guy? I thought writing 15k word articles about how the Warriors are like the Fast and the Furious movies was more his style.
It’s true that he’s never really been a traditional reporter, but he has plenty of connections and his wording here is pretty strong (and a stark contrast to typical comments on his podcast where he goes to great lengths to make it clear he’s NOT reporting something).
Thanks for letting me know. I guess it may be something then.
Sweet baby Jesus please let this be true
unfortunately as a knick fan as I have been for 40 years, it simply is not happenning in our lifetime
Unless Theo Epstein takes over as GM.
The Knicks would easily sell for 5B
It’s likely that Simmons isn’t hearing anything new. He’s just confused. It’s very unlikely that Dolan is looking to separately sell the Knicks.
What is likely to happen (and has been in the cards since the original CV spin off creating MSG) is that MSG’s sports and entertainment divisions (which operate separately) will be split, just as the MSG Network was spun off from MSG a few years ago. This not some secret. The approvals I believe are there and of public record.
What some might not know is that Dolan’s interest has always been more on the entertainment side, and he has really focused on that since the CV merger (contrary to what many Knick fans believe, Dolan hasn’t been an active team owner since hiring Jackson, and has little interest in getting re-involved with the team). So, the hope (and it’s realistic) is that, after a split, Dolan might not control the entity owning the Knicks. Or his control would be indirect enough that he wouldn’t want to run the entity.
That Men’s Warehouse lookalike needs to go!
You win the internet today.
Who will replace them as the Bevis and Butthead of the NBA? It’s been a joy watching them suck.
The sun’s? Cavs? Hawks? Should I go on
If the league wants to or at least look like it trying to better the league. It be a start by getting a new owner for the Knicks. They haven’t been good since the 90s.
I’ve always heard the name Dolan but never seen him. He looks like George Zimmer.
Bezo’s wife should buy them