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Controversial NBA Owner Reportedly Open To Selling His Franchise

A general view of the basketball court before fans are admitted to the arena.

NEW YORK, NY - NOVEMBER 20: A general view of the basketball court before fans are admitted to the arena prior to the game between the New York Knicks and the Indiana Pacers at Madison Square Garden on November 20, 2013 in New York City. (Photo by Bruce Bennett/Getty Images)

New York Knicks owner James Dolan has been a controversial figure at Madison Square Garden for many years. The team's general struggles under his ownership has caused fans to beg him to sell the team.

While Dolan has rarely ever expressed an interest in selling his team, he recently revealed what it would take for him to part with his franchise.

In a recent interview with ESPN, Dolan revealed that "feelers" have indicated that the team might be worth $5 billion, and that he might listen to a "bona fide offer."

"You hear numbers all the time," Dolan told ESPN when asked about selling the team. "... I think people have sent feelers out, but never any that were pursued. Yeah, [the feelers are] around that number [$5 billion], but those things, it's like a stock price. It's only important if you're going to buy or sell."

Dolan added that he had could not say that he'd never sell the Knicks, but said that he doesn't want to sell at this time.

"You have a responsibility as the guy who runs the place to deliver on that for them, that's being open and transparent. And so in that position, I could never say that I wouldn't consider selling the Knicks. Now, my family is not in that position, and they are the majority shareholders. They hold the majority of the vote. ... As a majority owner, I don't want to sell, either. 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. And they won't invest with you if you do that."

The Knicks have struggled mightily over the last five years, going through five head coaches and finishing each of those seasons below-.500.