To the majority of Knicks fans, this news will likely be music to your ears. James Dolan, the chairman of Madison Square Garden and owner of the New York Knicks, Rangers, and Liberty, has finally considered selling his most valuable asset for a "bonafide offer." That offer, according to ESPN, has to be upward of $5 billion for Dolan to consider it, yet thus far nobody has matched that number.
"You hear numbers all time," Dolan said recently in a rare interview, "I think people have sent feelers out, but none 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."
Dolan also expressed his unconditional love for the Knicks, yet said he had a responsibility to his shareholders to entertain any substantial offers. "As a majority owner, I don't want to sell," Dolan clarified, [yet] 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."
The Knicks have only reached the Finals once during Dolan's tenure, and have gone through 7 team presidents and 12 head coaches. Dolan, however, has been officially removed from all basketball operations since he infamously hired Phil Jackson back in 2014.
Elsewhere in the interview, Dolan speaks to why he thinks the Phil Jackson experiment went wrong, in addition to opening up about his sobriety that he's maintained over the last 25 years.
Source: espn.com
