One of the most frustrating aspects of rooting for the New York Knicks lies in knowing that owner James Dolan—with billions in media money behind him—has routinely squandered his franchise’s almost-unparalleled fortune.
And we’re not just talking about the monetary kind, either.
When Dolan assumed control of the Knicks, he wasn’t just inheriting a professional sports team situated in the heart of the world’s chief media market; he was assuming the role of caretaker for a legacy built on loyalty and long-standing basketball tradition.
And yet, year after year, Knicks management finds new and creative ways of financially forsaking that very trust—and pilfering Dolan’s own war chest in the process.
Because the NBA operates under a league-wide salary cap, conventional wisdom would suggest that owners and general managers would be more careful about the length and size of contracts than, say, their Major League Baseball counterparts.