Fri. Jul 19th, 2024

James Dolan Signs 3-Year Contract to Remain MSG Entertainment CEO Through June 2027

James Dolan, executive chairman/CEO of MSG Entertainment, will lead the New York-based live events company for another three years. Dolan received a new contract that will keep him at MSG Entertainment through June 2027, the company revealed on Friday (June 21) in a regulatory filing.

Dolan, who is also the CEO of both MSG Sports and Sphere Entertainment Co., will be paid a base salary of $1.5 million per year for leading MSG Entertainment and will have an opportunity to make an annual bonus up to 200% of his salary, according to the filing. He will also participate in the company’s long-term incentive plan. Beginning with the fiscal year starting July 1, 2024, he is expected to receive one or more incentive awards with a target value of at least $8.6 million, the filing adds.

In the fiscal year ended June 30, 2023, Dolan earned total compensation of $9.3 million from MSG Entertainment. His compensation from Sphere Entertainment, which spun off from MSG Entertainment in 2023 ahead of the launch of the Sphere venue in Las Vegas in September, amounted to $16.3 million. In addition, Dolan earned a total of $11 million from MSG Sports.

MSG Entertainment owns the venues Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, Beacon Theatre and The Chicago Theatre. It also produces the Christmas Spectacular production featuring the Radio City Rockettes. In fiscal year 2023, MSG Entertainment says it hosted over five million guests at nearly 900 live events.

By Michael

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