Kukla's Korner Hockey
Dolan Unlikely To Sell
by Paul on 08/16/08 at 07:21 PM ET
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from Ken Berger of Newsday,
Speculation has been simmering for weeks that the Dolan family business, Cablevision, might be willing to sell Madison Square Garden, the Knicks, and Rangers, as a way to placate shareholders and investors unhappy with the company’s flagging stock price. Knicks fans, unhappy with Dolan for reasons related to his flat-lining basketball team, no doubt rejoiced upon hearing the news.
Not so fast, though. Dolan’s gesture to investors—allowing them to voice concerns during a “listening tour” last week—seems to have been little more than a head fake. People knowledgeable about MSG in particular, and the sale of sports franchises in general, tell Newsday that it’s premature to run out onto Seventh Avenue traffic and celebrate Dolan’s departure from the Garden of Ills.
“I would say the most likely buyer is probably some group headed by Jim Dolan, personally, because Jim seems to get a lot of pleasure out of those particular assets,” an expert in the field of sports and media transactions told Newsday.
Filed in: NHL Teams, New York Rangers | KK Hockey | Permalink
Tags: James+Dolan,
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