MSG Shareholders Sue James Dolan
James Dolan is a lightening rod for Knicks fans and now it seems he has the same effect on the MSG Shareholders. Sports Illustrated is reporting that Dolan is being sued for "Excessive Pay" and spending more time with his band then he does being an executive.
According to Forbes the Knicks are valued as the top NBA team at $4 Billion. Meanwhile Dolan has had to address fans demanding he sell the team. The SI Article states:
According to filings by MSG, Dolan has been paid almost $76 million over the past three years, with the lawsuit saying that the MSG's peer companies paid their CEOs an average of $17 million over the same time frame.
“In 2017, for example, the band performed 50 times in six countries and 41 U.S. cities, an increase from the 32 shows it performed in 2016. In late 2017, the band released its sixth album, and is in the process of recording a seventh," the lawsuit said.
More drama surrounding James Dolan can't be good for the Knicks, Rangers and Liberty.