Search company, investor...

Predict your next investment

Angel Investor (Individual)

Investments

2

About Charles Dolan

Headquarters Location

Want to inform investors similar to Charles Dolan about your company?

Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights’ platform.

Latest Charles Dolan News

Madison Square Garden Could Face ‘Disciplinary Action’ On Liquor License After Billionaire Dolan’s Ban On Lawyers

Dec 7, 2022

Got it! Got it! AFP via Getty Images M adison Square Garden hit on a novel way to get back at the many plaintiffs’ attorneys involved in litigation against the company and its affiliates: bar them from entering the “world’s most famous arena” and its related venues. Now the New York State Liquor Authority says giving paying customers the heave-ho might not be kosher. Such bans could lead to MSG facing “disciplinary action” in regard to its liquor license, according to an advisory letter issued last week by the state agency. The letter says that “as a condition of your license your premises must remain open to the public” and “groups or individuals cannot be excluded on the basis of criteria that are not directly related to the your duties under your [liquor] license.” If the authority finds that violations have occurred, it may take “disciplinary action against your license.” MSG has for months reportedly been denying entry at MSG, where the NBA’s New York Knicks and the New York Rangers of the NHL play; Radio City Music Hall, home of the Rockettes and their popular Christmas show; and concert venues the Beacon Theater and the Chicago Theater. In response to questions from Forbes, an MSG spokesperson said, “We are confident that our policy is in compliance with all applicable laws including the New York State Liquor Authority.” Madison Square Garden Entertainment, which owns and operates MSG, doesn’t break out alcohol sales in its annual report, but it generated roughly $110 million from food, beverage and merchandising at its entertainment venues in the fiscal year that ended June 30. The company posted $1.7 billion in total revenues for the fiscal year. The filing notes that any disruption of its ability to sell alcoholic beverages could have a “material negative effect on our business and our results of operations.” James Dolan, MSGE’s chairman and CEO, is one of eight people and one LLC listed as principals on the liquor license. Led by patriarch Charles Dolan, the Dolan family, which owns the Knicks and Rangers through sister company MSG Sports, is worth $4.6 billion, according to Forbes. MSGE share prices have fallen precipitously from a 52-week high of $84.57 to $43.00 on Wednesday. The Dolans collectively own 8.4 million shares of MSGE. The company first announced the ban in June, which applies to all firms representing plaintiffs suing MSG or its affiliates. It only applies to lawyers and not other employees at the firm. MSG instituted the unusual ban “because of the adversarial nature inherent in litigation proceedings, and because of the potential for contact with the company’s employees and disclosure outside proper litigation discovery channels that could result from the presence” of any adversarial lawyers at the company’s venues, MSG lawyer Hal Weidenfeld wrote in a June 24 letter obtained by Reuters. Plaintiffs’ lawyers from Davidoff Hutcher & Cintron sued, with a New York Supreme Court judge ruling “the plaintiffs may not be denied entry into any shows where they possess a valid ticket.” However, the judge also ruled that MSG can refuse to sell tickets to the plaintiffs and can revoke them at any time before entry, as well as barring them from sporting events at its venues. In a statement, MSG called it a “clear win.” How MSGE has enforced the ban has been the subject of controversy. One lawyer at the firm Grant & Eisenhofer, who is not involved with her firm’s litigation with MSG and was not aware of the policy, alleges in a sworn affidavit that the venue used face-recognition software to identify her, according to Reuters. While attending a concert at MSG with her husband, she said she was approached by employees and asked to present identification. She refused and was correctly identified before being removed from the arena. MSG did not reply to a request for comment on this specific incident. With additional reporting by Hank Tucker. Follow me on  Twitter . Send me a secure  tip .

Charles Dolan Investments

2 Investments

Charles Dolan has made 2 investments. Their latest investment was in Zola Books as part of their Seed - III on March 3, 2016.

CBI Logo

Charles Dolan Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/10/2016

Seed - III

Zola Books

$3.4M

No

1

11/4/2013

Seed - II

Subscribe to see more

$99M

Subscribe to see more

10

Date

3/10/2016

11/4/2013

Round

Seed - III

Seed - II

Company

Zola Books

Subscribe to see more

Amount

$3.4M

$99M

New?

No

Subscribe to see more

Co-Investors

Sources

1

10

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.