Reports Say That The New York Knicks Could Be Open To Selling A Portion Of The Team To An Unlikely Buyer
Since the year 2000, the New York Knicks have only had four winning seasons. That includes their 33-27 record they currently have coming out of the all-star break. For years Knicks fans have been hoping that owner James Dolan will release his ownership of the team, but that doesn’t seem likely. However, the Knicks are reported to being open to selling a portion of the team to an unlikely buyer that might shock the fans.
There have been reports over the years of the Knicks possibly selling a portion of the team. Nothing has had any traction until a recent reports suggests otherwise. It’s said that Qatar Investment Authority and Abu Dhabi’s fund Mubadala Capital are trying their luck to potentially own part of the Knicks in the near future.
At the moment, New York Sports Betting sites have the Knicks at (+20000) to win the Finals this season.
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— NEW YORK KNICKS (@nyknicks) February 16, 2023
The New York Knicks might be selling portion of the team down the line
Reports say that Qatar Investment Authority and Abu Dhabi’s fund Mubadala Capital are the unlikely buyers who are want to own portion of the Knicks. The two funds manage $450 billion and $284 billion in assets, respectively. That’s more than enough money to own part of the New York Knicks without question.
In December the league changed a rule to where private equity investors are now eligible to buy as much as 30% of one of the leagues franchises. The two parties already have somewhat of an established connection with the Knicks at the moment and selling a portion of the team could make it that much stronger.
Mubadala is invested in the equity group Silver Lake, which is an investor of Knicks owner Madison Square Garden Sports. This may not be what Knicks fans want at the moment, but it’s a step in the direction of James Dolan potentially selling his entire share of the team someday.
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