STOCK TITAN

Dolan group (NYSE: MSGS) reshapes family trust ownership in MSG Sports

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

Rhea-AI Filing Summary

Madison Square Garden Sports Corp. received an updated Schedule 13D/A from the Dolan family group detailing changes in their ownership structure and reporting group composition. The filing reflects internal transfers among family trusts and the removal of one legacy trust from the group.

On February 20, 2026, the Charles F. Dolan 2009 Revocable Trust transferred 224,434 shares of Class B Common Stock to various Dolan family members and trusts in partial repayment of promissory notes, valuing the shares at $326.83 each based on that day’s Class A trading range. As a result, that trust now holds no Common Stock and ceases to be a group member, while several new family trusts join the group and related stockholders’ and registration rights agreements.

As of February 24, 2026, the group may be deemed to beneficially own 5,155,023 shares of Class A Common Stock, consisting of 625,506 outstanding Class A shares and 4,529,517 Class A shares issuable upon conversion of all outstanding Class B shares. This represents about 21.4% of the company’s Common Stock, based on 19,539,816 Class A shares outstanding as of January 30, 2026. Each reporting person disclaims beneficial ownership of securities held by the others.

Positive

  • None.

Negative

  • None.





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 3,049,107 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 3,752,566 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 2,236,548 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 3,768,618 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 3,815,223 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 4,491,952 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 1,921,155 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 1,596,828 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 3,617,866 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 Paul J. 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 4,529,517 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 Revocable 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 4,223,190 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 4,206,190 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 4,232,583 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 4,220,531 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 3,925,193 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 3,704,882 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 4,061,552 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 4,111,456 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 4,102,957 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 4,138,550 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 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 4,513,952 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 4,524,465 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 4,524,465 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 4,505,611 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 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 4,510,814 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 4,528,517 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




Comment for Type of Reporting Person:
Excludes 4,510,815 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 Marianne E. Dolan Weber 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




Comment for Type of Reporting Person:
Excludes 4,518,517 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 2021 GC Trust FBO Kevyn A. 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 4,518,517 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 2021 GC Trust FBO Tara E. 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


James L. Dolan
Signature:/s/ James L. Dolan
Name/Title:James L. Dolan
Date:02/24/2026
Thomas C. Dolan
Signature:/s/ Thomas C. Dolan
Name/Title:Thomas C. Dolan
Date:02/24/2026
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:02/24/2026
Marianne Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/24/2026
Deborah A. Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/24/2026
Patrick F. Dolan
Signature:/s/ Dennis H. Javer
Name/Title:Dennis H. Javer as Attorney-in-Fact
Date:02/24/2026
Corby Dolan Leinauer, as a Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/24/2026
Mary S. Dolan, as a Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:02/24/2026
Paul J. Dolan, as a Trustee of certain trusts described herein
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan
Date:02/24/2026
Charles F. Dolan 2009 Revocable Trust
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Matthew J. Dolan, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Matthew J. Dolan, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
Ryan Dolan 1989 Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/24/2026
Tara Dolan 1989 Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:02/24/2026
CFD 2010 Grandchildren Trust FBO Descendants of Kathleen M. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
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:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
Kathleen M. Dolan 2012 Descendants Trust
Signature:/s/ Paul J. Dolan
Name/Title:Paul J. Dolan, Trustee
Date:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/24/2026
Marianne E. Dolan Weber 2012 Descendants Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Richard Baccari, Trustee
Date:02/24/2026
CFD 2021 GC Trust FBO Kevyn A. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026
CFD 2021 GC Trust FBO Tara E. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:02/24/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:02/24/2026

FAQ

How much of Madison Square Garden Sports (MSGS) does the Dolan group report owning?

The Dolan group may be deemed to beneficially own 5,155,023 shares of MSGS Class A Common Stock, or about 21.4% of the company’s Common Stock, including 4,529,517 shares issuable from conversion of all outstanding Class B shares.

What internal share transfer did the Dolan trusts complete in February 2026 at MSGS?

On February 20, 2026, the Charles F. Dolan 2009 Revocable Trust transferred 224,434 Class B shares to various Dolan family members and trusts. The transfer partially repaid promissory notes, using a value of $326.83 per share based on that day’s Class A trading prices.

Which Dolan entity stopped being a group member in the latest MSGS Schedule 13D/A?

The Charles F. Dolan 2009 Revocable Trust ceased to be a beneficial owner of Madison Square Garden Sports Common Stock and is no longer a group member after transferring all its Class B shares to other Dolan family group members on February 20, 2026.

Were new Dolan family trusts added as reporting group members for MSGS?

Yes. Several new Dolan family-related trusts, including the 2009 Family Trust FBO Patrick F. Dolan and multiple CFD 2010 and 2021 grandchildren and descendants trusts, were added as group members, reflecting receipt of Class B shares and participation in existing stockholder and registration rights agreements.

How is the Dolan group’s MSGS ownership split between Class A and Class B shares?

The group’s reported beneficial ownership includes 625,506 outstanding Class A shares and 4,529,517 Class A shares issuable upon conversion of an equal number of Class B shares. The 4,529,517 Class B shares represent all outstanding Class B stock under the Class B Stockholders Agreement.

Did the Dolan group report any open-market trades in MSGS Class A stock recently?

Other than the internal trust-to-trust transfers described, the reporting persons state there were no transactions in Madison Square Garden Sports Class A Common Stock by them during the past sixty days. The focus is on intra-group movements, not public market buying or selling.
Madison Square Grdn Sprt Corp

NYSE:MSGS

View MSGS Stock Overview

MSGS Rankings

MSGS Latest News

MSGS Latest SEC Filings

MSGS Stock Data

7.53B
16.69M
Entertainment
Services-miscellaneous Amusement & Recreation
Link
United States
NEW YORK