Madison Square Garden has filed a lawsuit claiming that the SportsBusiness Journal interfered in confidential relationships between MSG and prospective lenders interested in financing renovations to the famed arena, according to a story on the site of the American City Business Journals publication.
The story states, “The lawsuit, filed in New York State Supreme Court, names as defendants SportsBusiness Journal, staff writer Daniel Kaplan and American City Business Journals, the magazine’s parent company.
“The lawsuit claims that Kaplan, while working on a story that appeared in the magazine’s Nov. 16-22, 2009, issue, ‘improperly induced and encouraged one or more unknown employees of major financial institutions … to breach valid written confidentiality agreements’ by providing him ‘with highly confidential, non-public financial information and projections related to [Madison Square Garden]’ and its planned renovation of the arena. The lawsuit says the news came at a ‘sensitive time,’ when MSG is in the process of being spun off from its parent, Cablevision, as a new public company.
“SportsBusiness Journal Publisher Richard Weiss said, ‘There is no merit to MSG’s claim and SBJ expects the court to dismiss the suit promptly.'”
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