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Dolan family group reports 17.8% MSGE (NYSE: MSGE) stake in amended 13D

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

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp. received an updated Schedule 13D/A from a Dolan family group reporting their combined beneficial ownership of Class A Common Stock. As of March 9, 2026, the group may be deemed to beneficially own 8,431,743 shares of Class A Common Stock, including shares issuable upon conversion of Class B stock.

This consists of 1,564,989 shares of Class A Common Stock (including certain equity awards and foundation holdings) and 6,866,754 shares of Class A Common Stock issuable upon conversion of an equal number of Class B shares. The filing states this represents about 17.8% of total Common Stock deemed outstanding, based on 40,406,345 Class A shares outstanding as of December 31, 2025.

The amendment also adds Thomas C. Dolan as a Reporting Person and provides detailed individual and trust-level ownership breakdowns for Dolan family members and related trusts. The group notes that members may be deemed to share voting and dispositive power over all outstanding Class B shares and each Reporting Person disclaims beneficial ownership of securities held by the others. The filing further states there were no transactions in Class A Common Stock by the Reporting Persons since the prior amendment.

Positive

  • None.

Negative

  • None.

Insights

Dolan family group reports a 17.8% beneficial stake and formalizes Thomas C. Dolan as a Reporting Person, without new share transactions.

The filing shows the Dolan family group may be deemed to beneficially own 8,431,743 shares of Madison Square Garden Entertainment Class A Common Stock as of March 9, 2026. This combines 1,564,989 existing Class A shares and 6,866,754 shares issuable from Class B conversion, tied to a long‑standing dual‑class structure.

The group’s stake is described as approximately 17.8% of total Common Stock deemed outstanding, calculated using 40,406,345 Class A shares outstanding as of December 31, 2025. The filing emphasizes shared voting and dispositive power over all outstanding Class B shares under a Class B Stockholders’ Agreement, while each Reporting Person disclaims beneficial ownership of others’ holdings.

This amendment primarily updates the composition of the Reporting Persons by adding Thomas C. Dolan and supplying granular tables of individual and trust‑level positions. It also confirms there were no Class A stock transactions by the named Reporting Persons since Amendment No. 6, so the change is structural disclosure rather than a new trading event.






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 5,688,893 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 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 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:03/09/2026
Thomas C. Dolan
Signature:/s/ Thomas C. Dolan
Name/Title:Thomas C. Dolan
Date:03/09/2026
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:03/09/2026
Marianne Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:03/09/2026
Deborah A. Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:03/09/2026
Patrick F. Dolan
Signature:/s/ Dennis H. Javer
Name/Title:Dennis H. Javer as Attorney-in-Fact
Date:03/09/2026
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:03/09/2026
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:03/09/2026
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:03/09/2026
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Matthew J. Dolan, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Matthew J. Dolan, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:03/09/2026
Ryan Dolan 1989 Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:03/09/2026
Tara Dolan 1989 Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:03/09/2026
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:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:03/09/2026
Kathleen M. Dolan 2012 Descendants Trust
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:03/09/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:03/09/2026

FAQ

How much of Madison Square Garden Entertainment (MSGE) does the Dolan family group report owning 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. This includes existing Class A shares and additional shares issuable upon conversion of Class B Common Stock, representing about 17.8% of total Common Stock deemed outstanding.

What is the breakdown of the Dolan group’s beneficial ownership between MSGE Class A and Class B Common Stock?

The filing reports beneficial ownership of 1,564,989 shares of Class A Common Stock, plus 6,866,754 additional Class A shares issuable upon conversion of an equal number of Class B shares. Together, these positions total 8,431,743 Class A shares deemed beneficially owned by the Dolan family group.

How was the Dolan group’s 17.8% beneficial ownership percentage in MSGE calculated?

The 17.8% figure is based on 40,406,345 Class A shares outstanding as of December 31, 2025, as reported in Madison Square Garden Entertainment’s Form 10-Q. The percentage reflects combined existing Class A holdings and Class A shares issuable from conversion of outstanding Class B Common Stock.

What key change does Amendment No. 7 to the MSGE Schedule 13D report for the Dolan group?

Amendment No. 7 adds Thomas C. Dolan as a Reporting Person and updates group ownership details. It restates combined beneficial ownership of Class A Common Stock and clarifies that certain trustees and family members may be deemed to share voting and dispositive power over all outstanding Class B shares.

Did the Dolan Reporting Persons trade MSGE Class A stock during the period covered by this amendment?

The amendment states there were no transactions in Madison Square Garden Entertainment Class A Common Stock effected by the Reporting Persons named in Item 5(a) since Amendment No. 6. The update focuses on ownership reporting and group composition rather than new market trading activity.

How do individual Dolan family members and trusts feature in MSGE’s ownership structure?

The filing lists individual Dolan family members and multiple trusts, each with specific Class A share counts and percentages. Many positions involve shared voting and dispositive power, and numerous entities disclaim beneficial ownership of shares held by other Reporting Persons, reflecting a complex, trust‑based family ownership structure.
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