• Loading stock data...
Sunday, October 19, 2025
Law

Judge Tosses $1.8B MSG Lawsuit

Madison-Square-Garden-Insurance
Wendell Cruz-USA TODAY Sports/Design: Alex Brooks

After requesting nearly $2 billion for COVID-19-related losses, a judge ruled that owners of Madison Square Garden, the New York Knicks, New York Rangers, and other related entities are limited to just $1 million in insurance coverage.

MSG and its companies sued four insurers in March, demanding access to $1.8 billion in coverage as part of their insurance policies.

In May, the insurers bid to drop the suit, stating that it was invalid since no “physical damage” was caused as part of the financial losses. MSG and the others persisted in their efforts anyway.

On Friday, the judge dismissed the lawsuit, ruling in favor of the $1 million limit under a “communicable diseases” provision. The number is small compared to MSG’s first-quarter operating loss of $83.3 million.

COVID-19 Insurance Lawsuits

Madison Square Garden isn’t the only sports-related entity to sue regarding pandemic insurance.

  • MLB and all its teams sued their insurers, with the league saying it purchased policies to cover more than $1.6 billion in losses for any one “occurrence.”
  • The NHL and 20 of its teams sued five insurance companies in June 2021 for failing to reimburse more than $1 billion in losses.

News of the NHL’s lawsuit surfaced last week despite being filed in June 2021.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Financial Behemoth Dodgers Win NL Pennant, Eye History

The biggest spenders would be MLB’s first repeat champion in 25 years.
Jon Ledecky

Islanders Owner Warns WNBA Against Labor Strife: ‘No Bueno’

Jon Ledecky drew a stark contrast between the two leagues.
Dave Checketts

Ex-Knicks President: When David Stern Accused Me of Skirting Cap

The Knicks walked away clean when accused of cap circumvention in the 1990s.

NHL Expansion Fee Soars to $2B As League’s Value Surges

The buy-in price for the league will more than triple.

Featured Today

@chef__tezz/Instagram

Inside the NFL’s Private Chef Network

Private chefs are the unsung architects of player performance, balancing science, taste, and the demands of professional football.
October 18, 2025

How Vanderbilt Went From SEC Doormat to Dark Horse CFP Candidate

After beating LSU, Clark Lea said: “Internally, we expect to win.”
May 27, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard T.J. McConnell (9) shoots a three point basket over New York Knicks guard Josh Hart (3) during the third quarter of game four of the eastern conference finals for the 2025 NBA Playoffs at Gainbridge Fieldhouse
October 18, 2025

NBA Stars Swap Wine With League Friends and Foes

A wine-exchange tradition emerged from the bubble season’s close quarters.
May 25, 2025; Indianapolis, Indiana, USA; Derek Jeter walks the red carpet on Sunday, May 25, 2025, ahead of the 109th running of the Indianapolis 500 at Indianapolis Motor Speedway
October 16, 2025

The Players’ Tribune Is Still Kicking 11 Years Later

Founder Derek Jeter is still closely involved in the publication.
[Subscription Customers Only] Jun 19, 2025; Pasadena, California, USA; Botafogo owner John Textor before the match during a group stage match of the 2025 FIFA Club World Cup at Rose Bowl Stadium.

John Textor Loses Bid to End $97M Suit Tied to Failed Soccer..

Textor told FOS he intends to appeal; Iconic Sports intends to collect.
Apr 9, 2025; Chicago, Illinois, USA; The Chicago Cubs flag sign is seen prior to a game between the Texas Rangers and Chicago Cubs at Wrigley Field
October 15, 2025

Facial Recognition Tech Suit Against Cubs Dismissed

The Cubs said they don’t use the technology protected by Illinois law.
FBI
October 17, 2025

Former Everton Bidder Indicted for $500 Million Fraud Scheme

777 Partners failed to complete its purchase of Everton in 2023.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Feb 4, 2025; Toronto, Ontario, CAN; New York Knicks center Karl-Anthony Towns (32) and Toronto Raptors forward Jonathon Mogbo (2) chase after a loose ball during the second half at Scotiabank Arena.
October 13, 2025

Knicks, Raptors Agree to Drop Suit Over ‘Mole’ Accused of Stealing

The Knicks had sought more than $10 million in damages.
Feb 9, 2025; New Orleans, LA, USA; Recording artist Kendrick Lamar performs during the halftime show of Super Bowl LIX between the Philadelphia Eagles and the Kansas City Chiefs at Ceasars Superdome.
October 10, 2025

Judge Dismisses Drake’s Super Bowl Defamation Suit

The judge said diss tracks aren’t considered facts.
Oct 7, 2018; Cincinnati, OH, USA; Cincinnati Bengals quarterback Andy Dalton (14) and Miami Dolphins free safety Reshad Jones (20) talk with each other after the Bengals defeated the Dolphins at Paul Brown Stadium.
October 10, 2025

Former Dolphins Safety Lands $9.5M Settlement in Advisor Theft Case

Reshad Jones accused his former financial advisor of stealing almost $2.6 million.
Aug 19, 2022; Delaware, OH, USA; More than 1,700 Olentangy Berlin High School students celebrate being named ‘Most Spirited High School in the Country’ by Varsity Brands. The school celebrated with a pep rally in the auditorium.
October 9, 2025

Varsity Brands, PE Owner Face $200M Suit Claiming Systemic Sexual Abuse

Defendants are accused of a coordinated conspiracy.