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Knicks Will Offer Refund With Interest For Games Missed

If Knicks season-ticket holders are also locked out of the Garden in November, they at least will receive refunds -- with an interest rate better than standard savings accounts.

The Post has obtained a letter sent to Knicks season-ticket holders on July 1 which specifies any cancelled games will be refunded with interest on a monthly basis.

According to a person with knowledge of the situation, the lockout interest rate is 1 percent, with calculations beginning Oct. 1. Each letter sent out was personalized.

The letter read, in part, "If any 2011-12 preseason or regular season games are cancelled due to a work stoppage, all Season Subscribers will have the option of receiving a refund with interest on a monthly basis, or have money left on account with interest. More specific details about refunds or credits will be shared at the appropriate time."

Via Marc Berman/New York Post
 

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