New York Knicks owner James Dolan suggested he is not looking to sell the team but has received significant financial interest.
“You hear numbers all the time,” Dolan said, per Ian O’Connor of ESPN. “… 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.”
While Dolan said he doesn’t want to sell the team, he pointed to his “responsibility” to shareholders when leaving open the possibility:
“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.”
Now, before I get too hyped, I should probably point out that James Dolan being ‘open’ to selling the Knicks is a story that seems to leak out every 6 months with no real buyers reaching out to him and Dolan himself having no real interest in giving up his stranglehold over midtown Manhattan.
I should also point out that Ian O’Connor is the king of re-reporting a story that we already know.
Last year we heard reports that Tom Brady and Bill Belichick don’t like each other and that’s all anyone at ESPN talked about for weeks.
Then when that story died down, Ian O’Connor dropped a book about the New England Patriots in which he just repeated all of the stories we had already heard and everyone took it as new information.
I wrote about James Dolan wanting to sell the team 6 months ago. Trust me. I remember being excited about this.
Shout out to Ian O’Connor writing about it today like it’s breaking news. No one is better at writing about what we already know and making it seem like he did actual work. I’m genuinely jealous.
Also, fuck Phil Jackson.
If every Knicks fan donated like, $11 then we could buy the team from this tyrant. Please make this happen before the Knicks lose out on Kawhi and Kyrie and instead give like, CJ Miles the max.