When people ask the question, “Why aren’t the New York Knicks one of the best franchises in the NBA?” the answer routinely finds its way back to one person.
The controlling shareholder of Madison Square Garden Sports and Madison Square Garden Entertainment, which owns the Knicks and New York Rangers, Dolan is either inept or completely disinterested, depending on which Knicks fans you talk to. But the point is that when you look at all the decisions that have doomed the franchise while other teams have collected NBA championships, they all come back to the thin-skinned owner who can’t help but meddle while alienating former players as well as current fans.
Naturally, he’s getting a huge raise.
According to The Athletics’ Mike Vorkunov, Dolan signed new contracts with MSG Sports and MSG Entertainment last month that will pay him at least $26.5 million per year, plus bonuses.
Last month, James Dolan signed new contracts to continue running MSG Sports and MSG Entertainment. He'll make at least $26.5 million annually (plus bonuses). Also, an explanation of the family trust that allows Dolan to retain control of Knicks and Rangers https://t.co/kR0WaivZi4
— Mike Vorkunov (@MikeVorkunov) January 24, 2022
Furthermore, Vorkunov explains why it is unlikely that Dolan will ever sell MSG. Simply put, none of the other owners have the ability to sell without him, and he clearly enjoys the role too much.
The Dolan Family Committee is made of 5 Dolan family members. Approval of any sale that changes control of MSG Sports "must be approved by not less than all but 1 vote." Each member gets 1 vote, except James Dolan, who gets 2, so he can block any sale. https://t.co/kR0WaivZi4 https://t.co/AbWhlehQIF
— Mike Vorkunov (@MikeVorkunov) January 25, 2022
The new deals cover Dolan through June 2024, so the company will have to come to a new arrangement with its leader by then. Clearly, results on the court don’t seem to be a measure by which his salary is determined, so whether the Knicks find a way to put it together or continue to fall short of expectations, Dolan will continue to get paid and make all the bad blues music he wants.