James Dolan is shutting down all talk of selling the New York Knicks ... laughing at the notion and straight-up saying it's not happening.
The rumors started to swirl earlier this week ... when investment analyst Jonathan Boyar predicted Dolan would put the team up for sale after the new MSG Sphere opens up in Las Vegas next year.
An MSG rep was quick to deny the speculation ... saying there were "no plans" to sell both the Knicks and New York Rangers.
Dolan doubled down on the statement as he was leaving businessman Noah Tepperberg's birthday party at LAVO in West Hollywood ... smiling and saying, "no" after being asked about the rumors.
Some angry fans have been calling for Dolan to sell the team for years -- and chants have broken out at Madison Square Garden on numerous occasions.
As we previously reported, there have even been cases where Knicks supporters have been BANNED from MSG for telling Dolan to sell the team in person.
It's no secret -- the Knicks have struggled for a while now, but that could always change overnight with a superstar free agent signing or trade.
Hang in there, New York.