GordonGecko
First Ping Pong Ball
Which is exactly the point. The threat isn't the eminent domain. The threat is not renewing the permit which allows the Garden to host large events. The Rangers/Knicks respond with threatening to not play there, forcing the city to acknowledge the only way they could do anything with the site is through eminent domain. Essentially, the Garden would be calling the city's bluff on the eminent domain front, leaving the council with the choice of an empty building or giving into the Garden's demand.
As I said, if the city just works with them and agrees to move the tax exemption with the team, there's no reason this couldn't get done.
Depends on who's mayor - DeBlasio wouldn't be bluffing, he would easily let the garden sit empty knowing MSG corp has a lot more to lose. The city (plus state & federal) would need to have the cash ready to buy out and build the new station. Probably not feasible in our lifetimes