I might even make the argument that NYC would do fine with just one NFL team [not going into the fact that NYC really has 0 teams and it's been that way since 1984].
New York City has 2 professional NFL teams that play in the state of NJ, Giants starting in 1975 and the Jets starting in 1984.
They are NYC teams that happen to play in NJ. They are and always have been NYC teams and will remain so. NJ has 0 NFL teams and they are not like for example, the NJ Devils of the NHL, who play in NJ and were purchased in 1982 and relocated from Denver to specifically represent NJ.
Not sure why people don't understand this concept and mistakenly always say "NYC really has 0 teams", when they have 2, and they happen to play nearby in NJ.
And in keeping with this thread, the Devils, Rangers & Islanders are in closer geographic location with all 3 of each other closer to each team in a straight line, than from downtown Los Angeles to Anaheim as used in an earlier example.
And when original Devils owner John McMullen purchased the Colorado Rockies and moved them to East Rutherford NJ in 1982, he had to pay $12.5 million in territorial infringement payments to both the Rangers, Islanders and even the Flyers. The league considered their being 3 other teams (Rangers, Islanders & Flyers) in what would be considered the NJ Devils new market.
The amount of any territorial indemnity payment right now or in the future for any 2nd or 3rd NHL team will most likely be ridiculously high. But then again, $12.5 million must have also been considered high in 1982 money.
"McMullen paid $12.5 million in territorial indemnities, split among the New York Rangers, New York Islanders and Philadelphia Flyers, to move the franchise to New Jersey because he believed there was room for another NHL team in the New York metropolitan area."
Longtime owner to be first in Devils Ring of Honor