Billionaire Knicks Owner Dolan Awarded $50 Million This Year
- Pay for MSG’s CEO and chairman is tied to share price growth
- Firm has said it will spin off its hockey and basketball teams
Photographer: Chris Trotman/Getty Images
James Dolan is on track to join the ranks of top-paid public-company executives in the U.S. less than a year after taking over as CEO of Madison Square Garden Co.
The overlord of the Garden, the Knicks and the Rangers will be awarded compensation worth about $50 million for the year ending June 30, according to a regulatory filing Thursday. Most of the pay is composed of stock options that will yield value only if the share price reaches certain thresholds.