(CBSNewYork) — The Knicks franchise may soon be sold.
As Crain’s first reported, shares in Madison Square Garden Co. soared after owner James Dolan announced Thursday he was exploring a spin-off separating the Knicks and Rangers from the rest of Madison Square Garden.
If this alleged spin-off were to happen, Dolan would still remain in charge of the teams. It would be the first time the teams haven’t been owned by Madison Square Garden.
According to Crain’s, Dolan seems to be interested in music and entertainment more than sports.