• James Dolan is not a fan of ownership of sports teams
• Dolan owns the New York Knicks and the New York Rangers
• He had said in January 2023 that he will not sell the Knicks
The New York Knicks may not be one of the best franchises in the NBA, but they’ve always been one of the most popular ones. That popularity means that the Knicks can still be a more valuable franchise than the Lakers despite not replicating a fraction of the on-court success LA has enjoyed.
Despite that, Knicks owner James Dolan has expressed his disdain for owning teams in major sports leagues, as reported by the New York Times.
“(Dolan) considered expanding his sports portfolio, perhaps by buying a baseball or soccer team. But while the Knicks and Rangers are ‘near and dear to my heart,’ he said, ‘I don’t really like owning teams,’ calling the economics of major league sports ‘kind of sleepy.’ He ruled out that option.”
Dolan is a businessman before he is a sports fan. It seems he’s not thrilled about the financial model of sports.
He has other fun and new projects, including the extremely promising ‘MSG Sphere’ in Las Vegas, which initially prompted people to believe he was looking to move on from the Knicks. It’s been used in various clever marketing campaigns since and is considered to be a game-changer in outdoor advertising.
What Are The Knicks Worth In 2023?
Coming off their best season in a painfully long time, the Knicks look to be on their path back to contention in the NBA. They’re stacked with assets and have a winning roster in play already. The team is going to become more valuable in the coming seasons, especially if they can keep winning and become a perennial playoff team.
The Knicks are the second-most valuable franchise in all of basketball, with a valuation of $6.1 billion. They’re trailing the Golden State Warriors, who are valued at $7 billion. The Knicks are slightly ahead of the Los Angeles Lakers, who have an estimated value of $5.9 billion.
New York is the largest media market in the USA and the Knicks are darlings of that media market. Knicks games regularly pull in the most viewers and generate a passionate reaction from the fans, even when they are not doing well on the court.
If Dolan was to sell the franchise, it would result in a payday that could exceed $10 billion, given the growing nature of the NBA and the tremendous value of New York fans.
Would James Dolan Ever Sell The Knicks?
For someone who isn’t a fan of the financial model of major sports leagues, many can wonder why he still owns his teams instead of selling them off for a 10-figure payday. The simple answer is family, as Dolan revealed in January 2023 that he wouldn’t sell the franchise and would want it to remain family-controlled after he retires.
“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 own it.”
The Knicks aren’t family-owned like the Lakers are. Dolan has run the Knicks since 1999, but the team is technically owned by the Madison Square Garden Sports Company, which is a publicly traded company.
He has six sons, so it seems there may be a ‘Succession-esque’ battle behind the scenes to be next in line for one of the most valuable sports companies in the country.
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