Stock market gains at his companies have erased the "Dolan discount." By Andrew Bary
James Dolan is on a winning streak, much like the team he controls: this year's National Basketball Association champs, the New York Knicks.
Dolan heads Sphere Entertainment, Madison Square Garden Entertainment, and Madison Square Garden Sports, shares of which used to carry a "Dolan discount" due to concerns that the Dolan family, which controls them, would put its interests ahead of public shareholders. Not any more: All three have enjoyed huge stock market gains in the past year.
Dolan conceived of and helped design the Sphere, a Las Vegas entertainment venue that opened in 2023 amid doubts it could earn a decent return on its $2 billion cost. Yet, the Sphere has become a money maker, supplementing musical concerts with an immersive version of the movie The Wizard of Oz, which has generated $370 million of revenue so far. Other Spheres are planned near Washington, D.C., and in Abu Dhabi and elsewhere.
Dolan, 71, is now the toast of New York because MSG Sports owns the Knicks, which just won their first championship in more than 50 years. "It's the year of the Dolans," says Jon Boyar, president of Boyar Value Group.
Write to Andrew Bary at andrew.bary@barrons.com
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(END) Dow Jones Newswires
June 19, 2026 21:31 ET (01:31 GMT)
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