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Investor group backs Madison Square Garden

SLP Investment Holdco LP and related entities said they invested in Madison Square Garden Co. based on the view that its shares are undervalued relative to the company's asset value.

Also, the investor group said in a Schedule 13D filed Feb. 23 that it would like to support the company and its efforts to create long-term value.

The group plans to review their holdings in the company on a continuing basis.