Madison Square Garden's New Suite Reportedly Will Cost $400k

Madison Square Garden is reportedly offering fans a $400,000 suite package for sporting events and concerts at the arena.

Per ESPN's Darren Rovell, the package will include two front-row seats in a new suite being built at the arena for 180 different events at MSG, including home games for the New York Knicks and New York Rangers, as well as high-profile concerts by Billy Joel and Shakira. 

Other benefits of the package include Dom Perignon champagne during each event and "wristbands that give access to four guests who already have tickets inside the arena." 

The new suite at MSG comes as a result of a partnership with entertainment company Tao Group after the Madison Square Garden Company, owned by Larry Dolan, bought a controlling stake in Tao for $181 million in February. 

"We try to push the envelope every year by creating super-stylish, highly curated spaces," Tao Group co-founder Noah Tepperberg told Rovell. "So we thought, Why not take over one of MSG's spaces? And it became apparent that we should do it at the greatest arena in the world."

Tepperberg also noted the suite—known as Suite Sixteen—will operate like a country club: "The people...in this room will be a collection of people that you won't be able to find anywhere else on a consistent basis."

The suite will be open starting on Oct. 30 when the Knicks host the Denver Nuggets.