Madison Square Garden Entertainment Signs MoU Related to New York's Penn Station Redevelopment
MT Newswires Live
Jun 09
Madison Square Garden Entertainment (MSGE) entered into a non-binding memorandum of understanding with the master developer selected by Amtrak for the proposed redevelopment of New York's Penn Station, the company said in a late Monday filing.
Under the MoU, the parties acknowledged that the Madison Square Garden Arena must remain fully operational throughout any redevelopment work, the company said.
The agreement also contemplates the potential transfer of the Infosys Theater at MSG to the master developer, subject to further negotiations and definitive agreements, the company added.
The master developer, Penn Transformation Partners, is a consortium led by Halmar International and Skanska, according to the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.