James Dolan Won't Rule Out Selling Knicks

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James Dolan Won't Rule Out Selling Knicks 

Post#1 » by RealGM Wiretap » Mon Dec 17, 2018 2:24 pm

James Dolan revealed that he couldn't rule out selling the New York Knicks if he received the right offer.


Dolan said there have been "feelers" of offers upward of $5 billion for the Knicks, but that "no one has come through with a bona fide offer."


"You hear numbers all the time," Dolan told ESPN when asked about selling the team. "... I think people have sent feelers out, but never any that were pursued. Yeah, [the feelers are] around that number [$5 billion], but those things, it's like a stock price. It's only important if you're going to buy or sell."


Doland took over as chairman of Madison Square Garden in 1999.


Dolan said he loves the Knicks and Rangers, "but you still have a responsibility to your shareholders."


"You have a responsibility as the guy who runs the place to deliver on that for them, that's being open and transparent. And so in that position, I could never say that I wouldn't consider selling the Knicks. Now, my family is not in that position, and they are the majority shareholders. They hold the majority of the vote. ... As a majority owner, I don't want to sell, either. As the head of the public company, you can't say you can't sell, because then you're telling your shareholders that your own personal feelings about your assets are more important than their money. And they won't invest with you if you do that."

Via Ian O'Connor/ESPN

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Re: James Dolan Won't Rule Out Selling Knicks 

Post#2 » by Jeff Van Gully » Mon Dec 17, 2018 2:25 pm

...so, you're saying there's a chance!
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#3 » by saltybs » Mon Dec 17, 2018 2:57 pm

If he sells the Knicks for over $5B, the future might view him as more savvy than we currently credit him. He's been on record saying that he thinks the rise of streaming services will cut into into the potential profits guaranteed by the current tv deal, but the other thing only a few people are talking about is that there's a really strong possibility the Knicks and Rangers will have to move to a new home in the not-so-distant future. The murmurs over a possible Penn Station redevelopment are growing louder, and are going to become an all-out chorus by the time MSG's operating permit expires 5 years from now. A lot of fans don't realize that MSG, which sits above the existing (****) Penn Station, only operates by way of a permit having a term of years, granted by the City Council. That term has been extended a few times, but doesn't have to be.

When the permit's current term is up I think MSG will get another ~10-15 year extension, but that'll be it. If the new NJ Transit/Amtrak tunnel under the Hudson gets funded in the meantime there will be so much (justified) pressure to just demolish MSG and rebuild a real, world class train station in MSG's place. I think Dolan knows that that's a real possibility, and even if the City forks over taxpayer funds to subsidize a new arena on the west side or wherever, it's going to be such a mess that he'd rather have $5B in his pocket and leave it for someone else to deal with.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#4 » by colaroaster » Mon Dec 17, 2018 3:02 pm

dolan could then concentrate on touring with his rock-n-roll band
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#5 » by 12footrim » Mon Dec 17, 2018 4:11 pm

colaroaster wrote:dolan could then concentrate on touring with his rock-n-roll band


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Re: James Dolan Won't Rule Out Selling Knicks 

Post#6 » by Jeff Van Gully » Mon Dec 17, 2018 4:58 pm

colaroaster wrote:dolan could then concentrate on touring with his rock-n-roll band


JD and the straight shot just need time in development in order to break through to the next level. we haven't seen their true potential.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#7 » by br7knicks » Mon Dec 17, 2018 5:11 pm

Don't tease us fans with good news
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#8 » by raylewis » Mon Dec 17, 2018 5:15 pm

NYC could crowdfund that in 20 minutes.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#9 » by raylewis » Mon Dec 17, 2018 5:21 pm

PS i know a rich new yorker that needs new job tasks in some 6 years.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#10 » by MegaK » Mon Dec 17, 2018 5:35 pm

Lebron buying the Knicks. Will be first player owner in NBA. History is watching...
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#11 » by The Senator » Mon Dec 17, 2018 5:57 pm

Now if only the Reinsdorf group would consider selling the Bulls...yeah, not happening, but I sure wish it could.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#12 » by thebuzzardman » Mon Dec 17, 2018 6:04 pm

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Re: James Dolan Won't Rule Out Selling Knicks 

Post#13 » by Durant Durant » Mon Dec 17, 2018 6:20 pm

Dolan forgot the green font.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#14 » by lonzo_pelota » Mon Dec 17, 2018 6:26 pm

charles oakley would happily buy him a 2piece no biscuit
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#15 » by DBCJUN » Mon Dec 17, 2018 7:10 pm

raylewis wrote:PS i know a rich new yorker that needs new job tasks in some 6 years.

i hope for every one that that is more like 2 years
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#16 » by macNcheese3 » Mon Dec 17, 2018 7:21 pm

Great news, Jim
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#17 » by Lalouie » Mon Dec 17, 2018 7:48 pm

he said this a couple of months ago.and then he changed his mind. HE knows HE is the problem and i think he's putting it out there as a carrot,,,,but he don't wanna give up the knicks
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#18 » by jimmy keys » Mon Dec 17, 2018 7:48 pm

MegaK wrote:Lebron buying the Knicks. Will be first player owner in NBA. History is watching...


Did you forget the part of history where Michael Jordan bought the Charlotte franchise? I think he used to be a player too. Not sure though maybe someone else can confirm.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#19 » by mesomorph » Mon Dec 17, 2018 8:32 pm

jimmy keys wrote:
MegaK wrote:Lebron buying the Knicks. Will be first player owner in NBA. History is watching...


Did you forget the part of history where Michael Jordan bought the Charlotte franchise? I think he used to be a player too. Not sure though maybe someone else can confirm.

Come on, Jordan never played for Charlotte after he acquired it.
Lebron could be the first owner who is also active player.
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Re: James Dolan Won't Rule Out Selling Knicks 

Post#20 » by Barcs » Mon Dec 17, 2018 9:50 pm

PLEASE SELL THE TEAM, JIM!!!
SELL THE TEAM, JIM!!! :curse:

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