Cablevision, the parent company of the Knicks, spun off Madison Square Garden as a separate stock recently, but financial writers think it's a bad long term bet. One reason: "fresh competition" from the Nets at Barclays Center in 2012. Meanwhile, the city's independent budget office says it's only fair the Knicks keep their $15 million a year real estate tax benefit because the city's subsidizing the Nets in Brooklyn.
- James as a Knick Won’t Help MSG - Rolfe Winkler & Edward Hadas - Reuters
- IBO offers Budget Options, including repeal of MSG tax exemption - Norman Oder - Atlantic Yards Report