This would never, ever, ever, ever, ever, ever, ever, ever happen... BUT it would be HILARIOUS!
Per Sporting News (not AP cause they are big dumb stupid heads):
The NHL has proposed disciplinary proceedings against Madison Square Garden that could result in the suspension or termination of the company's ownership of the New York Rangers, according to a draft letter written by NHL Commissioner Gary Bettman that was filed in New York district court late yesterday.
The letter, part of the league's ongoing legal fight against MSG, alleges that MSG -- by suing the NHL -- has violated the league constitution. The letter was part of a counterclaim the NHL filed asking the court to issue a judicial declaration allowing the NHL to discipline the Rangers and MSG internally. If the court fulfills that request, the league will immediately begin disciplinary proceedings against MSG.
Can you imagine the NHL kicking out Dolan and MSG? Ouch. The Rangers would be in trouble then. Hamilton Rangers, anyone? OK, seriously this isn't going to happen. But it's fun to think about.