With their Cablevision empire dragging in shallow waters, the Dolan family won’t need yachts anymore.
The family has put three of their yachts on the block in the latest surprise asset sale of the billionaire father-son team fighting off a cash crunch.
Most investors thought they’d unload cable subscribers, a network or two or even a sports team. But the family fleet?
The Dolans had no comment on the yachts.
According to a CNBC report yesterday, the yachts berthed at Oyster Bay, L.I., are actively being shopped by marine brokers. Upkeep on the fleet costs millions of dollars per year.