Worldwide

James Dolan looking to sell New York Liberty after 21 years

James Dolan looking to sell New York Liberty after 21 years”

Shavonte Zellous #1 of the Liberty handles the ball against the Dallas Wings during a WNBA game at Madison Square Garden on Friday, June 2, 2017.

In 2010, the team, along with Madison Square Garden itself, the Knicks and Rangers and several other sports and entertainment properties, was spun off from corporate parent Cablevision, becoming The Madison Square Garden Company.

It seems reasonable to assume the league will do everything in its power to keep the Liberty in the NY media market, though that does not necessarily mean Madison Square Garden will continue to be their home.

The Liberty will be the second WNBA franchise sold this offseason.

Madison Square Garden Co. announced plans to sell its WNBA franchise, one day after the company's chief executive officer suddenly resigned.

"This was a hard decision for us, which we made after carefully assessing the needs of our business", said Dolan, whose group also owns the New York Knicks and New York Rangers.

While all of the eight original WNBA franchises were owned and affiliated with National Basketball Association teams, only three of the 12 teams now have National Basketball Association partners - Indiana, Phoenix and Minnesota.

The Liberty was established in 1996 as one of the WNBA's original eight franchises.

It is unclear whether the Liberty would continue to play at MSG - or even remain in NY - under new ownership. The San Antonio Stars were purchased by MGM in October and will move to Las Vegas for the 2018 season. "And with a home that is also the world's largest media market, it is expected that new ownership will realize the benefits of having the team remain in NY".

The announcement comes after another successful regular season resulted in a first-round exit in the playoffs, after which coach Bill Laimbeer bolted for the new franchise in Las Vegas last month. NY promoted assistant coach Katie Smith to the head job.

Since NBA Hall of Famer and former Knicks president and coach Isiah Thomas took over as team president in 2015, the Liberty have qualified for the postseason and won the Eastern Conference all three years.

"I would like to thank Isiah, and the Liberty players and coaching staff, who have made great progress in strengthening and growing the franchise", Dolan said. "The Liberty now presents a tremendous opportunity for a new owner to bring new resources, creativity and focus to ensure the team becomes an enduring success".



Like this

Latest


14 November 2017
Preferred Apartment Communities Inc. (APTS) Upgraded by BidaskClub to "Strong-Buy"
Following the completion of the sale, the director now owns 77,180 shares of the company's stock, valued at $8,207,321.20. Investors are feeling more bearish on Mid-America Apartment Communities lately considering the motion in short interest.

14 November 2017
Royal Caribbean Cruises Ltd (RCL) Investment Increased by Capital Growth Management Lp
Gabelli initiated Gilead Sciences, Inc. (NASDAQ:EXEL) has "Buy" rating given on Wednesday, June 14 by William Blair. The stock of Royal Caribbean Cruises Ltd (NYSE:RCL) earned "Hold" rating by Deutsche Bank on Wednesday, November 8.

14 November 2017
Akhil's Hello teaser on 16th Nov
He tweeted, "Hello my friends, it's been a emotional week!" The actor Akhil has confirmed this news on his Twitter page. On the other hand, the family was grief-stricken after a massive fire damaged Annapurna Studios on Monday.

14 November 2017
Investors Alertness: Gilead Sciences, Inc. (GILD) Oversold
Proshare Advisors Limited invested in 936,513 shares. (NYSE:DE) stake by 120,000 shares and now owns 378,000 shares. Clifford Swan Investment Counsel Llc sold 5,947 shares as Gilead Sciences Inc (GILD)'s stock declined 8.05%.

14 November 2017
Louisville City FC wins USL Cup title
There will be a trophy presentation plus team recognition to highlight the 2017 USL Cup campaign, officials said. Swope Park Rangers made it all the way to the championship match in 2016, only to lose 5-1 on the road vs.

14 November 2017
First Trust Advisors LP Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)
The Davenport & Company Llc holds 1.49 million shares with $45.54B value, up from 1.41 million last quarter. Cisco Systems (NASDAQ: CSCO ) last posted its earnings results on Wednesday, August 16th. (NASDAQ: CSCO ).

14 November 2017
Former Faith No More Singer Heroin Overdose Suspected In Death
Chuck Mosley , former vocalist for the mid-Eighties alt-metal outliers Faith No More , has died as a result of addiction. He is survived by long-term partner Pip Logan, two daughters, Erica and Sophie and his grandson Wolfgang Logan Mosley.

14 November 2017
Jordan connects 12.9MW PV project in refugee camp
Although Za'atari may boast the world's largest solar plant at a refugee camp, it is certainly not a unique feature. The agency said the plant will allow the UNHCR to provide more hours of electricity to refugees' homes.

14 November 2017
Venezuela govt says debt refinancing underway as S&P cites selective default
On Monday, government officials met with creditors in Caracas in an attempt to restructure its debt. The agency said it acted after a 30-day grace period had passed on payments on two bonds.

14 November 2017
DTE Energy Company (NYSE:DTE) Releases FY17 Earnings Guidance
Thompson Davis & invested 0.01% of its portfolio in InnerWorkings, Inc. 37,576 were accumulated by Dana Investment. Following the transaction, the insider now directly owns 25,257 shares in the company, valued at $2,779,027.71.



Recommended