Tuesday, November 21, 2006

Dolans Destroying the Knicks?

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The journey of the Knicks from being one of the top teams in the league to the bottom is just one symptom of a dysfunctional ownership. Cablevision is one of the more powerful companies in New York, with a basic cable service with 3.1 million subscribers and lots of revenue. But they are also a family business—with all the myriad problems that come along with it.

Mr. Dolan and his 80-year-old father Charles have publicly butted heads over the direction of the company, and have taken on highly publicized battles with the Mayor’s office over the proposed Jets stadium and competitor Time Warner Cable. Currently, they are under government investigation over a murky stock issue, including an episode reported by The New York Times in which stock options were granted to a deceased vice chairman after he had died.

The same article described a $19.2 billion leveraged bid by the Dolans to take their company private—a move that many speculate is motivated by a desire to avoid scrutiny from investors.

The mystery that has surrounded the Dolans’ basketball decision-making is characteristic of their organization as a whole. Members of the media unfortunate enough to have the task of finding out anything meaningful about them have found this out the hard way.

“This is a terribly paranoid organization from top to bottom, and they do everything they can not to allow anything to be written about them,” agreed Filip Bondy, a columnist for the Daily News. “You’ll find few anecdotes about Dolan because he’s so private. It’s a problem, and the lack of anecdotes is a part of the problem. We live in New York and we live off personality. If we at least had some personality, we could be somewhat distracted away from the team on the floor.”








Source:
Knickleheads: Is Cablevision Dynasty Driving Franchise to Disaster?
Sara Vilkomerson and John Koblin
The New York Observer, 11/20/2006
http://tinyurl.com/ygmf3f

Posted at 06:06 AM in Sports, Television | Permalink

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