It's official. New York Knicks main man James Dolan no longer owns WNBA's New York Liberty.
The @nyliberty, formerly owned by James Dolan and MSG, are now owned by Brooklyn Nets’ minority owner, Joe Tsai. https://t.co/9SBqIVCwkN
— The Knicks Wall (@TheKnicksWall) January 23, 2019
An investment group led by Brooklyn Nets minority owner Joseph Tsai agreed to purchase the franchise, and the sale has been approved by both the NBA and WNBA Governors a few days ago.
Dolan, who also owns the New York Knicks put the Liberty's franchise up for sale in November 2017. Since then, several potential buyers tried to make the purchase, and a few of them were actually close to doing so, but for several undisclosed reasons, no deal has been sealed.
Until now.
Liberty is one of the three original WNBA teams that are still in existence together with the Los Angeles Sparks and Phoenix Mercury. And although there were rumors that the franchise would be shut down due to its ownership situation, Liberty eventually survived that scare.
Tsai will be taking over a franchise that has been one of the worst teams in the WNBA last season both in league standings (second worst) and attendance (worst). One of the major issues he will face now is to be able to build a team that will be competitive enough to convince the fans in New York that they are worth watching.
Meanwhile, Dolan can now solely focus on the New York Knicks, who has been one of the worst teams in the NBA for the past couple of years. It is unclear if selling the Liberty will help him in next year's free agency, as players like Kevin Durant, Kawhi Leonard, and Kyrie Irving are expected to hit the market and entertain offers from the rest of the league.
Hopefully, both franchises will be able to turn it around next season.
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