• Loading stock data...
Thursday, October 16, 2025

Knicks Owner Settles Lawsuits Related to MSG Sphere

  • Investors in MSG Networks alleged that Dolan purposely misled them about Sphere’s rising costs.
  • MSG Sphere in Las Vegas is on track to cost $2.2 billion.
New York Knicks owner James Dolan sitting courtside at a Knicks game at Madison Square Garden.
Brad Penner-USA TODAY Sports

New York Knicks and Rangers owner James Dolan is reportedly in the process of settling the second of two lawsuits against him related to the construction of the increasingly expensive MSG Sphere in Las Vegas.

Investors in MSG Networks alleged that Dolan purposely misled them about the rising costs of MSG Sphere by spying on employees and destroying evidence, according to the New York Post.

The lawsuit states that Dolan downplayed the expenses — by shredding documents and firing executives who wanted to disclose the rising costs — so that he could inflate the purchase price and dilute shares when MSG Entertainment purchased the Networks division for $922 million in March 2021.

Dolan reportedly settled with the MSGE shareholders for $85 million over the same issue last month.

New York Knicks and New York Rangers executive chairman, James Dolan, at Madison Square Garden.

Knicks Owner Hires PI to Trail Liquor Regulator Investigating MSG

James Dolan hired a private investigator to follow a state regulator.
March 19, 2023

While that settlement was paid for via insurance, it’s unclear how Dolan will pay for the MSG Network settlement and what the price will be — though the Post suggests he could personally be responsible for $200 million.

Since the cost of the Vegas MSG Sphere — which will primarily host concerts but also plans to host fighting events — ballooned to $2.2 billion in December, Dolan has fired at least two executives related to the project: president Lucas Watson and senior manager of business operations Jenna Wolfenson.

MSG Sphere is scheduled to open this fall with a performance from legendary rock group U2.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mat Ishbia

Mat Ishbia Countersues Suns Minority Owners in Transparency Fight

He claims two minority partners are manufacturing a “contrived legal drama.”

RAJ Sports Withdraws Lawsuit Over Trail Blazers Stake

RAJ Sports had sued the Cherng family, owner of Panda Express.
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.

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

The Knicks had sought more than $10 million in damages.
Hymie Elhai

Jets Say Execs Tried to Sink Team President in Bumbling Conspiracy

The team says thousands of deleted text messages show the plot.

Featured Today

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

The Players’ Tribune Is Still Kicking 11 Years Later

Founder Derek Jeter is still closely involved in the publication.
Las Vegas Aces center A'ja Wilson (22) celebrates with her teammates after her last second shot to take the lead 90-88 against the Phoenix Mercury in Game 3 of the WNBA Finals at Mortgage Matchup Center in Phoenix on Oct. 8, 2025.
exclusive
October 10, 2025

Standoff Over WNBA’s Future Has Dominated Finals

CBA negotiations have stolen the spotlight from the Aces’ dominant performance.
Paul Cartier
October 5, 2025

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.

For Yankees, It May Be ‘Business As Usual,’ but Title Drought Lingers

GM Brian Cashman says a salary cap is not at the forefront of his mind.
October 13, 2025

Titans Turnover: Brian Callahan Firing Adds to Pattern of Instability

Tennessee fired coach Brian Callahan six games into his second season.
Jun 15, 2025; Montreal, Quebec, Canada; Mercedes driver George Russell (63) and Mercedes driver Kimi Antonelli (12) celebrate their first and third place at the F1 Canadian Grand Prix at Circuit Gilles-Villeneuve.
October 15, 2025

Mercedes F1 Team Rides With Russell, Antonelli Despite Verstappen Link

Russell took the Formula One seat at Mercedes in 2021.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Cleveland Browns quarterback Dillon Gabriel (5) throws as quarterback Shedeur Sanders (12) looks on during rookie minicamp May 9, 2025, in Berea.
October 9, 2025

Browns Paying $41.6M to 8 QBs, but Only 2 Are on Their..

Cleveland traded Joe Flacco to the Bengals this week.
October 9, 2025

The Yankees’ $319M Roster Flopped. Now Comes the Hard Part: 2026

The MLB club’s current contracts limit its flexibility somewhat for next year.
October 6, 2025

Connor McDavid Signs Short-Term Deal, Eyeing Oilers’ Cup Window

The three-time Most Valuable Player signs for below his market value.
October 1, 2025

Cardinals Vow Changes Coming After Historic Attendance Drop

A stalwart franchise looks to correct an alarming slide in attendance.