New York Knicks owner James Dolan did not rule out the possibility of selling the team this week in a lengthy interview, but he insists that does not mean the franchise is on the verge of changing hands.
ESPN’s Ian O’Connor published a lengthy profile on Dolan, and Dolan said in it that it is his responsibility to the the shareholders of the team to always keep the option of selling open. While he said his family, the majority shareholders, don’t want to sell, he explained why he can’t rule it out.
“As a majority owner, I don’t want to sell, either,” Dolan said. “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.”
That makes sense from a business perspective, but many took it to mean the Knicks are for sale. Dolan clarified that there are no plans to sell the franchise in the near future.
Through his spokesperson, James Dolan states: "As we have previously stated, there are no plans to sell the Knicks.” Dolan referring to the online piece talking about looking out for his stockholders.
— Marc Berman (@NYPost_Berman) December 17, 2018
Many Knicks fans would prefer that Dolan sell the team and move on, and Dolan has shown on several occasions how sensitive he is about criticism of his struggling franchise. Unless something changes, a sale does not appear likely to happen anytime soon.
