NBA
Reports Say That The New York Knicks Could Be Open To Selling A Portion Of The Team To An Unlikely Buyer
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin has been a fan of the NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is watching sports and being able to share that through his sports writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became an NBA News Writer, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
All posts by Zach WolpinUpdated8 mins ago on April 19, 2024
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.
Good night Knicks fam.#NewYorkForever pic.twitter.com/3J22T9vF9K
— 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.
