While Knicks owner James Dolan looks out for his own interests, the rest of the NBA carries on

James Dolan attends the game between the Houston Rockets and the New York Knicks at Madison Square Garden on January 17, 2024. in New York City. (Photo by Sarah Stier/Getty Images)

James Dolan is riding the gravy train.

The billionaire inherited his fortune, which includes the New York Knicks, Madison Square Garden and MSG Network, from his father, Charles Dolan, one of the world’s wealthiest people. James Dolan controls the NBA’s highest-valued franchise in the league’s largest media market because he was born into both.

Dolan reportedly wanted more at the rest of the NBA’s expense. Except, the 69-year-old was this week’s lone dissenting vote against both the league’s proposed budget this season and its newly re-elected chairman of the board of governors, Toronto’s Larry Tanenbaum, sources told Yahoo Sports.

In 2023, when the Knicks paid $20.9 million into the league’s revenue-sharing plan, per ESPN’s Adrian Wojnarowski, Forbes valued the organization at $6.6 billion. The Knicks collected $504 million in revenue and $169 million in operating income last year, the publication said. MSG Network, which broadcasts the Knicks, earned a record $887 million in revenue last year, profiting $89.9 million, according to Sportico.

Dolan has reportedly sent three contentious memos to the board of governors in the last year — the first to resign from their financial and media advisory committees, a second to voice his displeasure with the NBA’s new media rights deal (and the league office’s share of it) and a third to reiterate those objections.

He wrote in July, “Pride of ownership is what is sacrificed. We are well on our way to becoming a one size fits all, characterless organization. Just remember we did this on the backs of owners like Jerry Buss.”

Pride of ownership, he said. Rich coming from a team owner who has castigated fans and former players alike. Or one who has been a subject of multiple sexual misconduct lawsuits. And it is notable that Lakers governor Jeanie Buss, Jerry’s daughter, has long been a supporter of the league’s revenue-sharing plan.

“Any business operator wants to keep their revenue,” she told…

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Author : Yahoo Sports

Publish date : 2024-09-11 21:16:59

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