There probably aren't a lot of people on here who care about this, but for those of us who are Rangers fans, this could be happiest day in our lives since June 14th 1994. Let's hope that this is just an opening bid and Dolan eventually sells the teams, please God let it happen...
Cablevision rejects offer for Knicks, Rangers
$700 million bid not considered credible by owner, spokesman says
Updated: 9:44 p.m. ET Nov. 21, 2005
NEW YORK - Cablevision Systems Corp. rejected a $700 million offer from an investment group last month to buy the New York Knicks and the New York Rangers professional sports teams, a Cablevision spokesman said Monday.
Cablevision, the country’s sixth-largest cable operator, confirmed the details of the offer made in a letter dated Oct. 18 by a group led by financier Russell D. Glass, a former executive at Icahn Associates, billionaire Carl Icahn’s investment firm. News of the group’s offer was reported online Monday night by The Wall Street Journal.
The investment group also offered to discuss an additional bid to buy the teams’ venue of Madison Square Garden from Cablevision but did not specify a price, according to Bethpage, N.Y.-based Cablevision. Icahn was not involved in the bid, the newspaper reported, citing people familiar with the offer.
11-22-2005, 12:29 AM
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