Is nightmare owner James Dolan planning on selling the Knicks?
For decades, New York Knick fans, NBA fans, and the media have all been able to agree on one thing: James Dolan is a terrible, very bad, no-good owner. As the saying goes, a fish rots from the head down, and there is probably no better example of that than Dolan’s tenure as Knicks governor.
Thankfully, ever since Phil Jackson’s departure, Dolan has mostly kept his nose out of the front office’s business. It just so happens that the Knicks have never been in a better position to have a successful future ever since he stopped medaling. Even so, I think I can speak for most fans when I say it is still extremely unnerving knowing that Dolan still lurks around the corner, so tragedy can still strike at any moment.
James Dolan may finally sell the New York Knicks soon
That is why it is so exciting that there seems to be some truth to the idea that Dolan will finally sell the team in the near future. According to Jonathan Boyar, a longtime MSG (Madison Square Garden) Entertainment analyst, it looks like Dolan will part ways with both the Knicks and the NHL’s New York Rangers.
Boyar was on CNBC when he stated that he “think[s] it’s likely that after” the completion of MSG Sports’ Vegas concert venue (MSG Sphere) next year, Dolan “will sell the teams.” And while Dolan is not the sole owner of MSG Entertainment, he is the majority owner.
As Yahoo broke down in November of last year, “Dolan Family Trust is the largest shareholder with 20% of shares outstanding.” As CEO, Dolan also “directly holds 1.4% of the total shares outstanding.” Clearly, this all means that if Dolan sold his share of the team it would mean a colossal change for the franchise.
While I am willing to give credit to Dolan for having hired Leon Rose, Scott Perry, and others who currently reside in and have done a good job so far of running the front office, it can’t be denied that he still poses as a potential major liability going forward. Think about how long he allowed Steve Mills to stick around for failure after failure. Or how Dolan allowed Phil Jackson to be a triangle tyrant and draft Frank Ntilikina with a lottery pick, only for him to finally be fired less than a week later.
There is no guarantee that Dolan departing from the organization will make this team a major success, but it is hard to think that any new owner could be more of a nightmare than Dolan has been for over 20 years. The Knicks haven’t been able to hold a championship parade in New York City since 1973. If Dolan sells the team, we may see a fan parade to celebrate the transaction. Here’s to hoping that it happens.