ˌɔn mˈeɪ tˈuː, nˈaɪntiːnhˈʌndɹɪd θˈɜːɾi fˈoːɹ, hˈæmənd ɐnˈaʊnst ðæt hiː ænd hɪz ɐsˈoʊsɪˌeɪts hæd pˈɜːtʃɪst kəntɹˈoʊlɪŋ ˈɪntɹɛst ʌv mˈædɪsən skwˈɛɹ ɡˈɑːɹdən fɹʌm ɹˈɪtʃɚd ˈɛf. hˈɔɪt fɚɹən ˈɛstᵻmˌeɪɾᵻd dˈɑːlɚ fˈaɪvhˈʌndɹɪd fˈoːɹɾi sˈɪks,zˈiəɹoʊzˈiəɹoʊ zˈiəɹoʊ.
On May 2, 1934, Hammond announced that he and his associates had purchased controlling interest of Madison Square Garden from Richard F. Hoyt for an estimated $546,000.