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It's the only company spending a billion dollars to overhaul one single building but it appears and it's not a finished.
To be paying off we've been following the Madison Square Garden transformation from day one.
Three years ago look at this stock moving beautifully over the past three years.
Well this week the world's most famous arena has become the third and final phase of this overhaul in a Fox Business exclusive -- president and CEO Hank Ratner.
Takes us and you behind closed doors for a tour.
I know it doesn't look like it but we're in the lobby of what -- being the most iconic sports arena in America.
And record -- show you something that no weather business sports or.
Network has shown you yet the phase three the final phase of Madison square -- transformation.
One billion dollar effort here.
Had to show us what this part of the construction zone is.
President and CEO chemistry Hank Ratner Fox Business exclusive hey hey thanks for us showing us around here first it's amazing what I'm looking up but I don't know what I'm looking at what are we seeing here in the -- of the construction.
Insurers you remember.
-- in the lobby of Madison square where it actually was for the outside.
That there -- no war.
Blocking it off it's all part of the outside it's gonna have an MSG school.
-- have a Gordon a dream zone it's gonna have a box office this is such a huge endeavor frank come on over here I just show how they've actually putts.
Floor barrel -- everywhere I.
During the excavation like dinosaur bones.
Fortunately we found nothing that we didn't have a have a fun right now where do you stand on budget and on time to finish the project.
We we stand where we thought we were gonna be from both the financial.
-- we concluded at that point.
To see both the Rangers and the knicks actually make it to the playoffs this time around that's passed we'll tell -- your third.
Most recent quarter earnings look very healthy we don't -- the top -- the bottom line it's that I have something.
With the that I have the psychology of new locker rooms and things like that certainly helped the teams feel better about where the point now where a much larger -- And even the next range from your -- you know we have to sports network.
In the marketplace we -- radio city music all all we have seven -- -- radio city Christmas spectacular.
This makes it even more surprising that the recent development of City Council where they denied -- request to have a sort of an in definite plan to operate on this site.
They stuck with what about a fifteen years operating -- Well we're not through the special permit process and again what needs to be understood -- -- -- zoning process it's about Sony.
We only Madison square -- we -- the land that Madison Square Garden sits on.
So it's about zoning and we'll get through the special permit process that will be done this July and life will go along as we know -- -- every city in the.
World want to arena such as this one.
Teams like the once -- play here.
-- of revenue that comes with that the tax revenue.
Nation as well.
So I think the city has gotten it right and we're proud to be in the city of part of the city and the world's most famous you're optimistic -- that you will be here for a long time.
We're very optimistic we -- going to make sense.
Let me tell you something about that Jack -- noise they are so focused on bringing this project in on time.
That they didn't even want to stop the Jack -- for this and we agreed to that and I think that it's a fascinating story because oftentimes these bloated projects.
Always tip over the scales but not this one that what.
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