9:20AM: As Deadspin notes, MSG will have the chance to reapply for a permit to stay in their current location.
7:21AM: Last night, the New York City Council voted 47-1 in favor of a ten-year limit for Madison Square Garden to operate at it’s current location.
MSG will have ten-years to find a new place to play while the city works on developing a new Penn Station.
The NY Times writes ” Civic leaders and some developers have long sought to rebuild Penn Station, a cramped and crowded maze for the more than 500,000 people a day who traverse it. But doing so would be an enormously complicated, multibillion-dollar undertaking that has foiled officials in the past. And anything can happen in the next 10 years, including several elections for mayor and governor. “
MSG responded to the news by saying that they are looking forward to the start of the 2013 season.