UPDATED, 2/14/17, 11 a.m. ET:

According to Mike Wise of The Undefeated, Charles Oakley's Madison Square Garden ban has reportedly been lifted:

Knicks fans may now resume their normal activities.

See original story below.

If you were at all interested in it, by now you know the story of former Knicks great Charles Oakley getting ejected and arrested after a scuffle with MSG security. After all, it did happen just two days ago.

While the initial incident seemed like a PR low for the organization, the Knicks have now reportedly banned Oakley from the arena for life. That news came from The Michael Kay Show on Friday afternoon:

Knicks owner James Dolan indicated it was a bit of an overstatement, and that Oakley's punishment wasn't a guaranteed lifetime ban. "I'll talk about [the ban] in a little bit, but it's not necessarily a lifetime ban," Dolan told Tim Bontemps of The Washington Post. "We need to keep the Garden safe for anybody who goes there."

Per Bontemps, Doland then said Oakley has an "anger" problem, and may or may not also have an "alcohol" problem:

Dolan added Oakley would have to address these issues before being allowed back:

Furthermore, Dolan said Oakley's past contributions to the team (he played there from 1988-98) didn't excuse his behavior on Wednesday night:

Dolan also said Oakley's abuse of staff had racial and sexual overtones:

According to TMZ Sports, witness statements included a number of allegations, like Oakley calling a security guard a "rat bastard" who was "sucking on Dolan's dick." After that was when the physical altercation began. Oakley then told Phil Jackson, in one of MSG's tunnels, "You didn't want to listen to me before so don't talk to me now."

According to a manager, Oakley then said, "All you whites over there get your story straight, why don't you have some brothers over there with you? Fuck all you white boys." As well as, "Fuck you police, I used to respect you but now I don't have no respect for you motherfuckers." He then continued to repeat that they all "just suck Dolan's dick."

It's worth noting that all of those statements came from the Knicks' staff.

For his part, Oakley said, "What happened is me and four friends went to the game tonight, to watch the Knicks and Clippers. We did sit down, trying to have a good time. Next thing I know I was asked to leave the building. "I asked, 'Why?' and they said, 'You have to leave because someone ordered you to leave.' And I'm like, 'I've been here four and a half minutes.'"

The Knicks have said they will send out a "follow-up video" of the incident later on Friday:

This whole thing is a freakin' mess, and it's not lost on fans and pundits.

Let's play along with the Knicks. Charles Oakley had one very bad day. Great. It happens. Now, Mr. Dolan can you explain the last 16 years.

— Frank Isola (@FisolaNYDN) February 10, 2017

For James Dolan, after the Isiah Thomas debacle, to be shaming OAKLEY for sexism and racism, without any evidence, is unconscionable.

— Alexander Goot (@AGoot18) February 10, 2017

Holy hell!!!! Pleeeeeease someone have one of these townhall meetings with James Dolan. I don't think he's surrounded by many truth tellers.

— Michelle Beadle (@MichelleDBeadle) February 10, 2017

James Dolan is the equivalent to woody johnson of the nfl. I'll trade charles oakley for dolan and roll the dice any day #knicks

— i_tweet_to_myself (@ace_booggyy) February 10, 2017

James #Dolan and Phil Jackson out here proving that #NBA players have bosses that are as big of pricks as yours at your 9 to 5 #job

— Michael Rain (@michaeljrain) February 10, 2017

One stat for ya Dolan.When Oakley was on the knicks they made it all ten years he was there. Since then only 7 times in 19 seasons!! #hmmm

— Grant Ogle (@grantogle) February 10, 2017

Man..fuck Dolan

— Z (@ZmusicNY) February 10, 2017