MSG execs dish on renovation plans

Madison Square Garden, the host of about 400 events each year, is
preparing to undergo a “wholesale overhaul,” the Wall Street Journal
reported. The project is expected to cost between $775 million and $850
million, with the bulk of the work being done over three
consecutive summers to minimize disruptions when the Knicks and Rangers are playing. The scheduled completion date is October 2013. Plans
include an expanded sixth-floor concourse, refurbished
seating, new locker rooms and 20 new suites. Hank Ratner, CEO of MSG, said the process
will require 2.6 million work hours, creating the equivalent of 1,300
full-time jobs. It is being funded entirely without public assistance
or subsidies. The arena last underwent changes in 1991, when 89 luxury
suites were added at a cost of $200 million. [WSJ]