Dolan indicates he is ready to sell New York Knicks for right price

James Dolan says he would be willing to sell the New York Knicks if the right bid came along, adding that he has received “feelers” of offers upward of $5bn (€4.4bn) but “no one has come through with a bona fide offer”.

In February, Forbes valued the Knicks at $3.6bn, which was the most of any NBA franchise.

“I could never say that I wouldn’t consider selling the Knicks,” Dolan said in a rare interview with ESPN. “Now, my family is not in that position, and they are the majority shareholders. They hold the majority of the vote.

“As the head of the public company, you can’t say you can’t sell because then you’re telling your shareholders that your own personal feelings about your assets are more important than their money.”

Dolan, who is chairman of Madison Square Garden, has put the WNBA New York Liberty up for sale. MSG’s share price jumped from $260 a share to $276 in a matter of hours following publication of the article.