James Dolan isn’t the most popular NBA owner around. In fact, he’s something of a pariah among Knicks fans, for a variety of reasons. Dolan has been owner since 1999, and his tenure has been marred by inter-organizational scandal, front office and coaching ineptitude, and perpetual on-court futility.
In just the past few years, that’s included the Charles Oakley fiasco, Phil Jackson’s bumbling reign as head executive, and mishandling of personnel that has likely scared free agents from joining the Knicks for years to come. But the organization, to their credit, is in the process of picking up the pieces after parting ways with Jackson last year and starting the slow process of building around franchise centerpiece Kristaps Porzingis.
So you can imagine the excitement for fans around NYC when news broke earlier this week that Dolan was preparing to sell the team. A similar rumor has been floating around since last fall. But according to new reports, that turned out not to be the case.
Via Stefan Bondy of The New York Daily News:
“There are no plans to sell the Knicks or the Rangers,” read a statement from The Madison Square Garden Company.
Two days earlier, Dolan announced he was exploring a move to separate the Knicks and Rangers from the rest of MSG. Theoretically, that would make it easier to sell his stake. It prompted MSG’s stock to soar 18% and, according to a Crain’s report, speculation that Dolan had cleared a path to sell.
However, one financial insider told the Daily News he believes Dolan isn’t separating his businesses to sell the Knicks but rather to create capital for new arena projects in Las Vegas and England. Dolan has become increasingly preoccupied with his entertainment businesses and distant from the Knicks, leaving the basketball decisions to team president Steve Mills, and Phil Jackson, previously.
Sorry, Knicks fans. You’ll just have to be content with the current upward trajectory of the franchise, which is still a marked improvement upon previous years.
