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."
Knicks Will Offer Refund With Interest For Games Missed