New York Knicks owner James Dolan sued by MSG shareholder
By Ed Stein
A Madison Square Garden shareholder is suing New York Knicks owner James Dolan. He allegedly makes too much money for a job he works part-time.
A lawsuit was filed by a Madison Square Garden Company shareholder against CEO and New York Knicks and New York Rangers owner James Dolan in Delaware. The suit alleges Dolan is both overpaid and works too little. Rather he spends far too much time on tour with his band JD & the Straight Shot.
The crux of the complaint alleges that Dolan, who has earned $75.6M the past three years, makes far more than CEO’s in similar positions ($17M). Additionally, he is preoccupied with his band. In 2017, they performed in six countries and 41 domestic cities.
It’s surprising that it’s taken so long for someone to go after Dolan. He’s run the New York Knicks (and Rangers) into the ground. The team has been awful for this majority of this century. They have finished with a .500 or better record in only three seasons since he took control.
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Meanwhile, the Knicks have gone through a series of team presidents in that time. Isiah Thomas, Donnie Walsh, Glen Grunwald, Phil Jackson, and Steve Mills have all held the job. Each one of them with a different philosophy and a different way to evaluate talent. The effect is a team that’s in a constant state of flux.
On the New York Rangers side of things, Dolan has been fortunate to have Glen Sather running the team since 2000. He’s a knowledgeable hockey man and got the Blueshirts close to a Stanley Cup a few times. Sather retired at the end of the season and Dolan has shown a sense of urgency to find his replacement.
Sports fans hate overly involved owners who don’t know as much about the sport as they think they do, with the possible exception of Mark Cuban. In Dolan’s case, the lawsuit makes it sound like he’s never there. Of course, he disagrees.
A spokesperson for MSG pretty much dismissed the matter as frivolous by a law firm that has filed many of that has filed similar suits against other companies.
"“This lawsuit amounts to nothing more than corporate harassment. The company stands by its policies and practices,” Madison Square Garden Company said in a statement."
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This lawsuit probably never sees a courtroom and nothing will likely come of it. Maybe it’s enough to snap Dolan back into reality and he can start focusing on his business interests. Either that or give up the whole thing and become a full-time musician.