James Dolan Inks Three-Year Contract Extension for MSG Properties, Sphere

Sports and music mogul James Dolan has officially inked three-year contract extensions with MSG Sports, MSG Entertainment, and Sphere Entertainment — solidifying his stay at the companies.

The companies disclosed the deals over the past few weeks, including the Sphere, which filed an extension last week. The new employment contracts run through June 2027.

Currently, MSG Sports owns the New York Knicks and New York Rangers, MSG Entertainment operates music venues like New York City’s Madison Square Garden, Radio City Music Hall, and the Beacon Theatre, and Sphere Entertainment operates the Las Vegas Sphere.

Across the three companies, Dolan is set to collect a salary of over $3.3 million, SEC filings show. Additionally, he is on target to receive an annual bonus of 200% of his salary — totaling $6.6 million. The deal includes long term incentive plans across MSG Sports and Entertainment, as well as performance vesting options in the Sphere. Together, the total annual value of all three deals is around $27.5 million.

The Sphere, Dolan’s latest project, took $2.3 billion to construct. The highly-acclaimed venue, which opened in fall 2023, has featured big-name acts like U2, Phish, and Dead & Company, with an upcoming residency from the Eagles. It’s also set to make an appearance in the world of sports with a UFC fight later this year, following the NHL draft last month. The outside of the venue, dubbed the “exosphere,” has brought-in substantial recurring revenue and sponsorships.