SCHEDULE 13D/A: Dolan Family Updates Madison Square Garden Sports Corp. Ownership Structure and Trustee Roles in Latest SEC Filing

An amended Schedule 13D filing reveals updated beneficial ownership stakes and a key trustee change within the Dolan family's extensive holdings in Madison Square Garden Sports Corp.

Summary

• This document is Amendment No. 7 to a Schedule 13D filing for Madison Square Garden Sports Corp. (MSGS), detailing changes in beneficial ownership by the Dolan family.
• The primary purpose of this amendment is to reflect the addition of Paul J. Dolan as a Reporting Person and to report changes in beneficial ownership.
• Effective January 31, 2025, Brian G. Sweeney ceased to serve as the trustee of the Charles F. Dolan 2009 Revocable Trust (CFD 2009 Trust), and Paul J. Dolan was appointed as the new trustee.
• As of February 3, 2025, the Dolan family Group Members collectively beneficially own an aggregate of 5,089,856 shares of Class A Common Stock.
• This aggregate ownership represents approximately 21.2% of the total shares of Common Stock deemed to be currently outstanding.
• The total beneficial ownership includes 560,339 shares of Class A Common Stock and 4,529,517 shares of Class A Common Stock issuable upon conversion of an equal number of Class B Common Stock shares.
• Paul J. Dolan is deemed to beneficially own an aggregate of 1,247,690 shares of Class A Common Stock, representing approximately 6.1% of the Class A Common Stock currently outstanding.
• No transactions in Class A Common Stock were effected by the Reporting Persons since the filing of Amendment No. 6 to the Schedule 13D.

Sentiment

Score: 5

Explanation: The document is a factual, legal filing detailing changes in beneficial ownership and trustee roles within the Dolan family trusts, with no explicit positive or negative financial implications for the company's operations.

Future Outlook

NA

Industry Context

NA

Management Changes

Corporate Governance

Related Party Transactions

• The filing details the beneficial ownership and control of Madison Square Garden Sports Corp. shares through various trusts (Dolan Children Trusts, CFD 1989 Grandchildren Trusts, 2009 Family Trusts, CFD 2009 Revocable Trust) managed by members of the Dolan family, who are considered related parties due to their significant ownership and involvement with the Issuer.

Stakeholder Impact

• Shareholders: Provides clarity on the beneficial ownership structure and control within the Dolan family, particularly concerning the Class B shares which carry significant voting power. The internal shift of trustee roles within the family could subtly alter the dynamics of control over the company.
• Management: The appointment of Paul J. Dolan, an existing director, to a key trustee role reinforces the family's influence over the company's governance.

Key Dates

Keywords

Madison Square Garden Sports Corp., MSGS, SEC filing, Schedule 13D/A, beneficial ownership, Dolan family, trusts, corporate governance, Class A Common Stock, Class B Common Stock, trustee change