Cablevision Systems Corp. rejected a $700million offer from an investment group last month to buy the New York Knicks and the New York Rangers.
Cablevision, the sixth-largest cable operator in the US, said the approach was from a group led by financier Russell Glass, a former executive at Icahn Associates, billionaire Carl Icahn’s investment firm.
The investment group also wanted to discuss a bid to buy the teams’ venue, Madison Square Garden, from Cablevision but reportedly didn't specify a price.
A Cablevision spokesman confirmed there were no plans to sell either NBA team the Knicks or the Rangers, who play in the NHL.
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