Dolan won't rule out selling Knicks for 'bona fide offer'

There's been speculation that Madison Square Garden chairman James Dolan would consider selling the New York Knicks, and the longtime owner suggested that could be the case - for the right price.

"I love the Knicks and (NHL's New York) Rangers, right, but you still have a responsibility to your shareholders," Dolan told ESPN's Ian O'Connor.

He added: "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."

Dolan also confirmed there have been "feelers" for the Knicks of around $5 billion, but that "no one has come through with a bona fide offer."

The 63-year-old's tenure with the team has received plenty of criticism since he took over in 1999. The Knicks have made the playoffs just five times since the 2000-01 season, reaching the second round only once in that span.

Regardless, the franchise is considered the most valuable in the NBA at approximately $3.6 billion, according to Forbes.