August 05, 2008
So was there a glimmer of hope today for New York Rangers fans tired of their ownership situation? Cablevision said it was "considering several options to boost its stock price including spinning off some of its diverse holdings," according to the Associated Press. Andrew Zimbalist, a sports economist with Smith College, told the AP that if the contracts between the two teams, cable television and MSG could be sussed out, the Knicks would be worth about $500 million and the Rangers $300.
Are the Rangers a "spinoff" candidate? The Dolans aren't saying. John Moag, chairman of the sports investment bank Moag & Co., tells Bloomberg that the Dolans' sports teams and MSG itself could bring in almost $2 billion if Cablevision does decide to sell. But Silicon Alley Insider believes it's more likely that Cablevision's Rainbow Cable Network (AMC, IFC, Sundance, et all) will be sold, as it's already being shopped around.
Time will tell. For now fed-up Rangers fans might have to keep their hopes with Gary Bettman in his war against the Dolans.