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 until June 2027, the company revealed Friday (June 21) in a regulatory filing.
Dolan, who is also CEO of both MSG Sports and Sphere Entertainment Co., will be paid a base salary of $1.5 million per year for flagship MSG Entertainment and will have the opportunity to make an annual bonus of 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 beginning 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 ending June 30, 2023, Dolan earned $9.3 million in total compensation 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, was $16.3 million. Additionally, Dolan earned a total of $11 million from MSG Sports.
MSG Entertainment owns Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, Beacon Theater and The Chicago Theatre. He also produces the Christmas Spectacular production with the Radio City Rockettes. In fiscal year 2023, MSG Entertainment says it hosted more than five million visitors to nearly 900 live events.
