Madison Square Garden permit capped at 10 years
Could this be the beginning of the end for Madison Square Garden?
The future for New York's iconic Madison Square Garden is in doubt after a city council vote limited the arena's permit to 10 years.
The New York City Council's vote Wednesday was applauded by groups interested in restoring Penn Station, which sits below MSG.
The measure passed easily, gaining 47 of 48 votes.
Civic groups say that moving the Garden is imperative so that the city can renovate Penn Station, which would in turn lead to economic growth and improved transit throughout the region.
However, defenders of MSG note that the arena is currently in the midst of a three-year, $1 billion renovation.
"Madison Square Garden has operated at its current site for generations and has been proud to bring New Yorkers some of the greatest and most iconic moments in sports and entertainment," a spokeswoman for the arena told the Associated Press.
The Garden has been at its current location since 1968, playing host to numerous concerts and events and serving as the home venue for both the New York Knicks and Rangers.
