STOCK TITAN

Dolan family updates MSGE (NYSE: MSGE) stake and pledges shares as margin collateral

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp.’s Dolan family group updated its Schedule 13D to report current ownership and new financing arrangements. As of February 27, 2026, group members may be deemed to beneficially own 8,431,743 shares of Class A Common Stock, equal to 17.8% of the company’s common stock. This includes 1,564,989 Class A shares and 6,866,754 Class A shares issuable upon conversion of all outstanding Class B shares.

The filing details individual and trust holdings, with James L. Dolan reporting 2,846,565 shares (6.6%) and several Dolan family trusts each holding between 0.1% and 9.7%. It also discloses that certain Dolan family entities pledged 332,392, 6,717 and 44,342 Class A shares, respectively, as collateral for a secured margin line of credit with JPMorgan Chase Bank, N.A., giving the lender foreclosure rights on these pledged shares under customary conditions.

Positive

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Insights

Dolan group reports 17.8% MSG Entertainment stake and pledges shares for margin credit.

The amendment shows the Dolan family group collectively may be deemed to own 8,431,743 Class A shares of Madison Square Garden Entertainment Corp., or 17.8% of common stock. This combines directly held Class A shares with Class A shares issuable from all 6,866,754 outstanding Class B shares.

Control influence stems from both economic ownership and the Class B structure, since all outstanding Class B shares are held by group members and are convertible one-for-one into Class A. Each reporting person, however, disclaims beneficial ownership of the others’ securities, underscoring a legal distinction between collective and individual stakes.

The filing also introduces a secured margin line of credit with JPMorgan Chase Bank, N.A., collateralized by specified Class A shares from James L. Dolan and related entities. If customary events under the loan documents occur, JPMorgan may foreclose on and dispose of this pledged collateral. The practical impact depends on future market conditions and whether any foreclosure rights are ever exercised, which is not addressed here.






Samantha H. Crispin
Baker Botts L.L.P., 30 Rockefeller Plaza
New York, NY, 10112
212-408-2500


Sarah J. Dodson
Baker Botts L.L.P., 30 Rockefeller Plaza
New York, NY, 10112
214-953-6585

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
02/25/2025

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 4,622,450 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 3,369,687 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 5,713,228 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 5,783,885 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Deborah A. Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,809,807 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Patrick F. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 3,164,060 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Corby Dolan Leinauer disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,596,024 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Mary S. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,402,362 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,355,665 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,416,602 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,398,331 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 5,950,598 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 5,820,189 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,157,316 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,252,164 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,220,328 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,294,974 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,809,807 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,859,095 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Ryan Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,859,095 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Tara Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,809,806 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 6,809,807 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Kathleen M. Dolan 2012 Descendants Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D


James L. Dolan
Signature:/s/ James L. Dolan
Name/Title:James L. Dolan
Date:02/27/2026
Kathleen M. Dolan, individually and as Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/27/2026
Marianne Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/27/2026
Deborah A. Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/27/2026
Patrick F. Dolan
Signature:/s/ Dennis H. Javer
Name/Title:Dennis H. Javer as Attorney-in-Fact
Date:02/27/2026
Corby Dolan Leinauer, as Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/27/2026
Mary S. Dolan, as Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/27/2026
Charles F. Dolan Children Trust FBO Kathleen M. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:02/27/2026
Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Charles F. Dolan Children Trust FBO Marianne Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Matthew J. Dolan, Trustee
Date:02/27/2026
Charles F. Dolan Children Trust FBO Thomas C. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Matthew J. Dolan, Trustee
Date:02/27/2026
Charles F. Dolan Children Trust FBO James L. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:02/27/2026
Charles F. Dolan 2009 Family Trust FBO James L. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/27/2026
Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/27/2026
Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/27/2026
Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/27/2026
Charles F. Dolan 2009 Family Trust FBO Deborah Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/27/2026
Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/27/2026
Ryan Dolan 1989 Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/27/2026
Tara Dolan 1989 Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/27/2026
CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/27/2026
Kathleen M. Dolan 2012 Descendants Trust
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:02/27/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/27/2026

FAQ

What ownership stake in MSGE does the Dolan family group report in this Schedule 13D/A?

The Dolan family group may be deemed to beneficially own 8,431,743 shares of Madison Square Garden Entertainment Class A Common Stock, representing about 17.8% of the company’s common stock, combining directly held Class A shares and those issuable upon conversion of Class B shares.

How many Madison Square Garden Entertainment shares are tied to Class B conversions?

Group members beneficially own 6,866,754 shares of Class A Common Stock issuable upon conversion of an equal number of Class B shares. This represents all outstanding Class B Common Stock and is included in the group’s aggregate 8,431,743-share, 17.8% reported economic interest in MSG Entertainment.

What margin loan and share pledge did James L. Dolan enter into involving MSGE stock?

On February 25, 2026, James L. Dolan entered a Secured Margin Line of Credit Note with JPMorgan Chase Bank. He agreed to pledge 332,392 MSGE Class A shares, while two related LLCs pledged 6,717 and 44,342 shares, securing obligations under the note and related collateral agreements.

Which Dolan family members and trusts hold significant MSGE Class A positions?

Reported holdings include James L. Dolan with 2,846,565 shares (6.6%), Kathleen M. Dolan with 3,693,478 (8.4%), Corby Dolan Leinauer with 3,739,007 (8.5%), and Mary S. Dolan with 4,337,599 (9.7%). Multiple children’s and family trusts each hold additional smaller percentage stakes.

What change in outside roles for Patrick F. Dolan is disclosed in the MSGE Schedule 13D/A?

The filing notes that Patrick F. Dolan is no longer a director of AMC Networks Inc. It also states he is the owner and president of Newsday, Long Island’s newspaper, with a principal business address at 6 Corporate Center Drive, Melville, New York 11747.

How many Madison Square Garden Entertainment Class A shares back the Dolan group’s margin collateral?

The collateral consists of specific Class A holdings: 332,392 shares pledged by James L. Dolan, 6,717 shares pledged by CFD 2009 Family Trust LLC, and 44,342 shares pledged by CFD 2009 Children’s Trust LLC, all securing obligations under a margin line of credit with JPMorgan Chase Bank.
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