The Cost of Losing
From the Associated Press:
Fourth-quarter operating income from Madison Square Garden fell by a little more than half to $35.2 million from $75.3 million a year ago, including $29.4 million in team-related expenses, which the company said was mainly related to "personnel transactions" at the New York Knicks basketball team.
The company didn't provide a breakdown of those costs. The costs are in addition to the $18.5 million Cablevision previously disclosed it paid to settle the contract of former head coach Larry Brown, who was fired after one season.
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