With the Nets days away from getting MTA approval for a new half-billion dollar arena in Brooklyn, the Knicks are now plotting the same course: building a new state-of-the-art Madison Square Garden a block west of the current building, to be replaced by high-rises. The old Garden would then be torn down. And like the Nets, the Knicks would need city, state and MTA approvals to build atop old rail yards.
- Madison Square Garden's Owners Are in Talks to Replace It, a Block West - Charles V. Bagli - New York Times