James Dolan's MSG Open to Selling Knicks, Rangers Minority Ownership Shares

Madison Square Garden Sports is willing to sell minority shares in the New York Rangers and New York Knicks franchises, president David Hopkinson said Tuesday.

MSG Sports has no plans to sell a controlling share of either franchise. Despite calls from a large number of fans to sell, owner James Dolan has said he plans to keep controlling interests.

"I have no plans whatsoever to sell at this point. I'm not retiring anytime soon. It's a family-controlled asset, so someone in the family will eventually own it," Dolan said on WFAN last month.

Dolan has held primary control of the Knicks and Rangers since taking over the sports assets owned by the company then known as Cablevision in 1999. While the Rangers have had intermittent success during Dolan's tenure, the Knicks have been one of the NBA's worst franchises for nearly a quarter-century.

New York has reached the playoffs just seven times since the 1999-2000 season and has gotten past the second round twice. Dolan's tenure has been mired with controversies both on and off the floor, including multiple run-ins with fans heckling him to sell the team.

Offloading a small percentage of the Knicks and Rangers is likely more of a financial liquidity move than a precursor to a sale. The Knicks are valued at $6.1 billion by Forbes, while the Rangers come in at $2.2 billion.