After the pandemic shut down Madison Square Garden for a year, the arena tried to collect $1.8 billion from insurance to offset its losses. But insurers countered that MSG was entitled to just $1 million, a sum even an insurance-company lawyer acknowledged was pretty small.
“A million dollars, in the aggregate, is not a lot of money for Madison Square Garden,” insurance attorney Harvey Kurzweil of the firm Winston & Strawn said at a court hearing last week.
But $1 million is all MSG stands to get after a New York state judge threw out most of its lawsuit alleging Factory Mutual Insurance, AIG, and two other carriers
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