The New York City Council notified Madison Square Garden on Wednesday that it has 10 years to leave its current location and find a new home, reported by The New York Times.
MSG is owned by James Dolan, who also owns the building’s main tenants in the NBA’s Knicks and the NHL’s Rangers. Dolan and MSG recently requested its special operating permit be renewed in perpetuity, but the city council instead decided on 10 years. The city plans to renovate Penn Station, a mass transit hub that sits under the Garden. The news also comes only months before MSG’s three-year, $1 billion renovation is scheduled to be completed.
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