The New York Knicks may be going through a front office overhaul, but they won't be undergoing an ownership overhaul any time soon. In a statement released on Thursday, Knicks current owner James Dolan made it clear that he has no plans of selling the team. Instead, he's committed to turning things around for the franchise.
"We are actively looking for a new President of the New York Knicks and hope to conclude the search as quickly as possible," Dolan said. "I am not selling, but I am determined to find the right leader for the Knicks who will ensure the long-term success of the team, just as we did with the hiring of Rangers President John Davidson."
After parting ways with president Steve Mills on Tuesday, the Knicks are reportedly as their new president of basketball operations. Joining Rose in the front office will be William Wesley, another CAA consultant who is extremely well-connected and commonly known around league circles as "World Wide Wes."
Rose is Los Angeles Lakers All-Star forward LeBron James' former agent, and he currently represents some of the top players in the league, such as Joel Embiid, Karl-Anthony Towns, Chris Paul, Devin Booker, Victor Oladipo and Carmelo Anthony. He negotiated James' contract with the Miami Heat in 2010 and served as the star forward's agent until 2012 when James signed with Rich Paul. The Knicks and Rose are expected to begin negotiations on Thursday, though a formal deal is not expected to be announced right away.
Whether or not Rose is the "right" leader for the Knicks remains to be seen, but the fact that Dolan has no plans of selling the team is sure to upset a large segment of the fan base that has been calling for him to relinquish control of the franchise for years. Just last month a "sell the team" chant popped up at Madison Square Garden near the end of the Knicks' 127-106 loss to the Memphis Grizzlies.
Fans may want it, but Dolan seems to have no desire -- or incentive -- to sell the team. According to Forbes, the Knicks are still the most valuable team in the NBA, despite their lack of success in recent years.