Entertainment

James Dolan Signs Extensions With MSG and Sphere Entertainment

Dolan will receive a salary of just over $3.3 million split between the three companies, with MSG Sports accounting for $1.6 million of that total, MSG Entertainment $1.5 million and Sphere $230,000.David Richard/USA TODAY Network

Chair of the MSG Sports and Entertainment Committee JAMES DOLAN According to Alex Weprin of the HOLLYWOOD REPORTER, Dolan has signed three-year contract extensions with the companies he and his family control: MSG Sports, MSG Entertainment and Sphere Entertainment. All three companies unveiled the new deals in recent weeks, with Sphere “filing the extension request just before the July 4 holiday.” According to SEC filings, Dolan will earn a salary of just over $3.3 million across the three companies, with MSG Sports accounting for $1.6 million of that total, MSG Entertainment $1.5 million and Sphere $230,000. He will also have an “annual target bonus” of $6.6 million, or 200% of his salary across all three companies. His contract will also include participation in long-term incentive plans at MSG Sports and Entertainment, including $8.6 million for MSG Entertainment and $7.8 million for MSG Sports. The total annual value of the three contracts “is approximately” $37.5 million. Dolan has “spent the last several years restructuring the businesses,” in part to help launch the Sphere, which is his “passion project.” The moves included separating the sports business from the venue business, as the value of professional sports teams has skyrocketed in recent years (HOLLYWOOD JOURNALIST, 7/5).

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