Knicks, Rangers not for sale, says owner James Dolan

James Dolan, owner of Madison Square Garden, the NBA NY Knicks and the NHL NY Rangers says rumors about the teams going on the auction block are not true.

"No, we're not going to sell," said Dolan during an appearance on FOX 5 NY morning program, 'Good Day New York,'

Dolan performed with his band JD & the Straight Shot on Thursday.

When asked where the rumors started, Dolan simply replied, "not from me."

In June, Dolan announced he was looking to separate the Knicks and Rangers from the rest of Madison Square Garden.

Putting the teams together in a separate public company, would give Dolan the freedom to more easily reduce his stake in the teams, according to business analysts.