Madison Square Garden Stock Jumps As Los Angeles Clippers Fetch $2 Billion
The Dolan family, the controlling owners of publicly traded Madison Square Garden, are big winners in the sale of the Los Angeles Clippers for an NBA record price of $2 billion. Yes, the New York Rangers are in the Stanley Cup Finals for the first time in 20 years, and the $2 million plus the hockey team nets on average from each home playoff game will boost MSG’s bottom line. But the main reason for MSG’s surging stock is the sale of the Los Angeles Clippers by Donald and Rochelle Sterling to former Microsoft CEO Steve Ballmer for MSG’s surging stock.
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