SCHEDULE: Dolan Family Restructures MSG Sports Ownership

An amendment to Schedule 13D details significant internal restructuring of beneficial ownership of Madison Square Garden Sports Corp. Class A Common Stock among Dolan family members and trusts.

Summary

• The Charles F. Dolan 2009 Revocable Trust (CFD 2009 Trust) is no longer a Group Member, having transferred all of its 224,434 shares of Class B Common Stock to other Group Members on February 20, 2026.
• The transferred shares were valued at $326.83 per share and were used in partial repayment of promissory notes.
• Several new individuals and trusts have been added as Group Members, including Patrick F. Dolan and various Dolan family grandchildren trusts.
• As of February 24, 2026, the Group Members collectively beneficially own 5,155,023 shares of Class A Common Stock, representing approximately 21.4% of the total outstanding Class A Common Stock.
• This aggregate ownership includes 625,506 shares of Class A Common Stock and 4,529,517 shares of Class A Common Stock issuable upon conversion of Class B Common Stock.
• The percentages of Class A Common Stock ownership are calculated based on 19,539,816 outstanding shares as of January 30, 2026.
• Individual beneficial ownership percentages range from Patrick F. Dolan's 0.2% (38,274 shares) to Mary S. Dolan's 13.2% (2,976,791 shares).
• The CFD 2009 Trust ceased to be a party to the Class B Stockholders' Agreement, and the new Group Members became parties to this agreement and the Dolan Affiliates Agreement on February 20, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is a routine disclosure of internal beneficial ownership restructuring within the controlling family, without direct implications for the company's operational performance or strategic outlook.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's financial performance or strategic direction, focusing solely on beneficial ownership changes within the controlling family group.

Industry Context

StockSavvy.ai notes that this filing primarily reflects an internal restructuring of ownership within the Dolan family, which controls Madison Square Garden Sports Corp. Such changes are common in family-controlled enterprises and typically do not indicate shifts in broader industry trends or competitive landscape. The filing provides transparency into the evolving beneficial ownership structure among key stakeholders.

Corporate Governance

Legal Proceedings

• No new Group Member has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) during the last five years.
• No new Group Member has been party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws during the last five years.

Related Party Transactions

• The Charles F. Dolan 2009 Revocable Trust transferred 224,434 shares of Class B Common Stock to other Dolan family trusts (Group Members) on February 20, 2026, in partial repayment of promissory notes. The shares were valued at $326.83 each for this transaction.

Stakeholder Impact

• Shareholders: The filing clarifies the beneficial ownership structure of the controlling Dolan family, providing transparency on who holds significant voting and dispositive power. No change in overall control is indicated.
• Dolan Family Members/Trusts: The restructuring reallocates beneficial ownership and formalizes participation in governance agreements among various family members and their trusts.

Key Dates

Keywords

Madison Square Garden Sports Corp., MSG Sports, Schedule 13D, Beneficial Ownership, Dolan Family, Class A Common Stock, Class B Common Stock, Trusts, Corporate Governance, Shareholder Structure