I probably left out a ton of I May Live In Canada But My Story Began In Bangladesh Bengali Flag Heritage Roots shirt I meant to put in this post, but like I said, I’m more than happy to elaborate, and I was already up against the 40k character limit. No, I cannot believe I just wrote a 40k character reddit post. Hope you all enjoy or at least learn something! I don’t understand why knicks have to play at MSG for the tax exemption. Is the tax exemption conditional on knicks only playing home games at MSG?
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Well the condition was put in there to I May Live In Canada But My Story Began In Bangladesh Bengali Flag Heritage Roots shirt them from moving – not from just playing random one off home games. So they got the tax exemption, but they were locked in and could not move to NJ, that was the trade off. But coincidentally it does prevent them from doing that, now that it’s a thing. If that makes sense… Well the deal stated that the Knicks would have to play every home game at MSG aka, not move. In exchange, the city would give them a full property tax exemption for that time period. Apparently the operations aspect of the contract (the part that says they have to stay at MSG) had a 10 year lifespan, which would have to be re-agreed upon then. But the tax exemption had no such lifespan, it was forever. The story is he got confused and thought that the operations part of it was the tax part of it…but do we believe that? sounds very ‘OOPS YOU MEAN IT HAS NO END OMG I DIDN’T SEE THAT!!’
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The whole problem now is that since the I May Live In Canada But My Story Began In Bangladesh Bengali Flag Heritage Roots shirt did that vote. They may lose their tax exemption either way in 2023, in an attempt to get them OUT of that garden. They don’t want them to leave the city of course, just to move off of Penn station. But the problem with that, is the city would surely have to subsidize the new arena i.e. It would cost them probably over a billion dollars to get the Knicks into a new arena in Manhattan. That combined with Dolan having politicians in his pocket, and the fact that they JUST did a 1 billion dollar ‘self funded’ renovation (thanks tax break) makes it very unlikely they’ll move.
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