Skip to content
Subscriber Only
Business
Deals

Blue Harbour Says Madison Square Garden Worth $400 a Share

  • Knicks and Rangers worth up to $7.2 billion, hedge fund says
  • Redeveloping land around MSG arena could unlock value
RJ Barrett of the New York Knicks dunks the ball against the Sacramento Kings at Madison Square Garden in New York City on Nov. 3. 

RJ Barrett of the New York Knicks dunks the ball against the Sacramento Kings at Madison Square Garden in New York City on Nov. 3. 

Photographer: Nathaniel S. Butler/NBAE via Getty Images

By

Updated on

Activist investor Blue Harbour Group is bullish on New York’s Madison Square Garden Co. as the iconic brand prepares to spin off its sports teams.

The owner of the New York Knicks and New York Rangers has other levers at its disposal to dramatically boost its share price, according to Blue Harbor Chief Executive Officer Clifton S. Robbins, whose firm owns a 4% stake in MSG.