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James Dolan, the chairman of Madison Square Garden Sports (NYSE:MSGS), said he has no plans to sell the New York Knicks and Rangers.
“There is absolutely no thought of a full sale of the teams,” Dolan told Barron’s in an interview published on Saturday.
Dolan told the publication that the company has no need for cash and “the value of the assets keeps going up every year. What you sell today may look like a cheap price” later.
Dolan’s comments to Barron’s come after the owner of famed sports franchises was recently quoted in a New York Times article as saying that he “really didn’t like owning teams.”
Dolan explained to Barron’s that people misunderstood his comments.
“I love the teams and enjoy being the owner/manager of them,” Dolan told Barron’s.
While Madison Square Garden Sports has considered the possibility of selling one of the teams, Dolan said the company isn’t working on any plans now.
Dolan last August also dismissed the possibility that he may sell either the Knicks or the Rangers after an analyst speculated on a potential sale.
Dolan said there may be an announcement about a sponsorship deal for patches on the Knick’s uniforms before the start of the upcoming season.
Dolan, who is also the CEO of Sphere Entertainment Co. (SPHR), spoke to Barron’s ahead of the opening of the Shere concert venue in Last Vegas on Friday, which is scheduled to include a concert from Irish rock legend U2.
