The New York Knicks are 1-7 this season as the quest for rock-er bottom-er continues at Madison Square Garden. The Knicks are somehow on pace to have a worse record than they had last year, when they went 17-65 and tied the the franchise record for fewest wins. The good news? An investor in the Knicks is publicly pressuring James Dolan to sell. Via the New York Post:
"Pressure is building on New York Knicks owner James Dolan to pump up the value of the failing basketball team by selling off stakes to wealthy investors. On Wednesday, activist investor Clifton S. Robbins said he’s been prodding Dolan’s Madison Square Garden to score minority buyers for the Knicks and Rangers ahead of a planned spinoff that will separate MSG’s sports teams from its other assets, like Radio City Music Hall."
If Dolan actually sells, pretty much everyone but James Dolan would be happy. And even Dolan would have billions of dollars as consolation. When this news reached CNBC this morning, Squawk Box co-anchor Andrew Sorkin literally shouted out "WOO HOO!" to the shock of the other people on set.
Did you expect Jim Dolan to get eviscerated on CNBC this morning? How do you think Dolan felt if he was tuning into watch the business news this morning and he ended up getting dragged in front of a whole new audience? Is there no safe space for a bad owner anymore?