The Atlantic Coast Conference's Civilization-style takeover of all properties Big East will not include Madison Squarte Garden any time soon.
Per ESPN, Madison Square Garden did not submit a bid to host the ACC basketball tournaments from 2016-2021, letting the deadline pass. What this means is that the ACC didn't want to move to the Garden, or they would have invited the World's Greatest Arena's representatives to put together a package. (It's also possible that MSG didn't want to host the ACC Tournament, but they're not in the business of turning down more gate receipts.)
The decision on where the ACC Tournament will be held will be made in the next few months. The tournament is currently ensconced in Greensboro, North Carolina, a defacto home field advantage for UNC and Duke, and to a lesser extent, for Wake Forest and North Carolina State.
Interestingly, Brooklyn's Barclay's Center - always interested in getting into the college basketball game - didn't submit a bid either.
Pittsburgh's Consol Energy Center - home of the Pittsburgh Penguins - did submit a bid to the ACC. ACC officials have not disclosed the cities that have submitted bids yet.