New York Knicks owner James Dolan is reportedly facing a lawsuit that argues he makes too much money for the amount of work he puts in as the executive chairman and CEO of the Madison Square Garden Company.
Marc Hogan of Pitchfork reported the news, noting the shareholders of the company brought the lawsuit and alleged he makes much more than his peers in the industry even though he "works at MSG only part-time" because of the time he spends with his band JD & the Straight Shot.
Hogan cited company filings that said Dolan was paid $75.6 million over the last three fiscal years.
"By comparison, MSG's peer companies paid their CEOs an average of $17 million for the same three-year period," the complaint said.
"The highest-paid peer CEO received $32.4 million, over $43 million less than James."