MSG 10 years left in current location?

Madison Square Garden's front row is usually occupied by the city's elite, such as director Spike Lee, Mayor Michael Bloomberg and other popular actors, musicians and designers. But in spite of all that influence, the "World's Most Famous Arena" is just a decade away from its fifth reincarnation.

The City Council voted to extend the Garden's lease by just 10 years so as to allow for the expansion of Penn Station, which currently resides underneath MSG.

"Madison Square Garden will have to move, and I think this permit sends the message that that work needs to begin now," City Council Speaker and mayoral candidate Christine Quinn said, as quoted by Erin Durkin of the New York Daily News. "We need to make sure Penn Station becomes what we need it to be, a really 21st century grand entrance into the greatest city in the world, not ... what Sen. [Daniel] Moynihan or others historically described as a bunch of rat tunnels that lead people in and out of the city every day."

Ironically, the original Penn Station was demolished to make room for the current incarnation of MSG.

Lee and Walt Frazier were among the celebrities to speak on MSG's behalf, but they failed to change enough minds to make a difference. However, the lease could be extended at any point in the future, so don't expect to see a wrecking ball on Sixth Ave. anytime soon.

Meanwhile Barclays Center, MSG's main competitor, sold more concert/family show tickets than any other U.S. venue over the first sixth months of the year, according to Billboard and Pollstar magazines.

Barclays ranked second in gross ticket revenue ($46.9 million) worldwide and third in global ticket sales behind London's O2 Arena and Manchester Arena.

MSG is currently in the final stages of a three-year renovation.

Max Seating Capacity: 14,500