In what could either be construed as good or bad news for Knicks fans, Madison Square Garden Co. (MSG) - Get Madison Square Garden Co. Class A Report officially rebutted reports that chairman and Knicks owner James Dolan has been courting offers for the NBA franchise.
"There has been nothing. No discussions. No plans to have discussions -- nothing," the company said in a statement. "The store is 100% false."
That comment contradicts an interview Dolan gave last year to ESPN's Ian O'Connor in which he said that there have been "feelers" of offers for up to $5 billion for the team, but that "no one has come through with a bonafide offer."
The Knicks franchise is the NBA's most valuable, with a Forbes' valuation of $4 billion.
Dolan has been in charge of the Knicks since he took over as chairman of Madison Square Garden in 1999. After making the finals in that strike-shortened season, the Knicks have been one of the worst franchises in basketball. They have just one playoff series win in 18 years and are likely to miss the playoffs again this year.
Madison Square Garden owns concert and sports venues across the country, including its namesake in midtown Manhattan. It is also the controlling owner of the Knicks franchise.
Madison Square Garden shares are up 0.44% in premarket trading..