Would the New York Knicks owner James Dolan consider selling the franchise if the right offer and buyer came along? Perhaps.
But also, perhaps not.
“I love the New York Knicks and [NHL’s New York] Rangers, right, but you still have a responsibility to your shareholders,” Dolan told ESPN’s Ian O’Connor this week.
Of course, it’s never that simple. The Knicks (9-22) are bad. Once again, they’re off to a laughable start on the court. If things continue as they’re going, they’ll miss the postseason for the sixth straight season. The highest amount of games they’ve won during this stretch is 37 (2013-14). It just doesn’t look like they’re going to be good anytime soon.
But Dolan is in no rush to sell.
“As the head of the public company, you can’t say you can’t sell, because then you’re telling your shareholders that you own personal feelings about your assets are more important than their money. And they won’t invest with you if you do that,” he continues.
However, Dolan did say that there have been “feelers” for the team listed around $5 billion. But also, that “no one has come through with a bona fide offer.”
Needless to say, that’s what he’s waiting for. And it’d be foolish of us to expect it to come anytime soon. We assume many people would love to own the Knicks. Despite how bad they are, it’s a professional New York City sports team. Who wouldn’t want that? Dolan, 63, has taken plenty of criticism since taking over in 1999 because of the team’s lack of playoff success. They’ve only been to the postseason five times during his sting in charge. And they’ve only made it out of the first round once.
That’s right, just once.
According to Forbes, the team is listed at $3.6 billion. That makes them the most valuable franchise in the league.