James Dolan taking steps toward selling Knicks

Knicks owner James Dolan is a terrible owner in every way but one.

The exception: He spends.

Otherwise, he asserts himself when he should defer and defers when he should assert himself. When he asserts himself, he usually makes the wrong decisions. When he defers, it’s usually to someone he erred in hiring. He’s rude, inappropriate and maybe downright hostile.

But maybe his reign will finally end.

Aaron Elstein of Crain’s New York Business:

Late yesterday Dolan announced he was exploring a spin-off that would separate the Knicks and the Rangers from the rest of Madison Square Garden. While Dolan would remain in charge of the teams, at least at first, putting them together in a separate public company would offer him the chance to whittle down his stake easily if he chooses. Dolan is understood to be more interested in music and building cutting-edge entertainment venues than sports.

This doesn’t mean Dolan will sell the Knicks. It doesn’t even mean he’ll spin off the Knicks and Rangers. Even if he does, we don’t know his intent.

But spinning off the teams would at least better position him to sell them.

In a song – music is his true passion – Dolan once called owning the Knicks “a living hell.” Maybe he finally escapes it.

Long-suffering Knicks fans can only hope.