Dolan Family Trust Acquires $12.2M in MSGS Shares via Promissory Note Repayment

summarizeSummary

This Form 4 details a significant acquisition of shares by the CHARLES F. DOLAN 2009 FAMILY TRUST FBO THOMAS C. DOLAN, a trust linked to the controlling Dolan family. The acquisition of 37,405 Class B Common Stock shares, valued at approximately $12.2 million, occurred as partial repayment of a promissory note. This transaction, while not an open-market purchase, represents a substantial increase in direct ownership by a key insider group, signaling continued conviction in Madison Square Garden Sports Corp. by its controlling shareholders. This activity aligns with the broader restructuring efforts by the Dolan family as disclosed in a concurrent Schedule 13D/A filing.

check_boxKey Events

• Significant Share Acquisition

  The CHARLES F. DOLAN 2009 FAMILY TRUST FBO THOMAS C. DOLAN acquired 37,405 shares of Class B Common Stock.

• Valued at $12.2 Million

  The acquired shares were valued at $326.83 per share, totaling approximately $12.2 million, based on the mean trading price of Class A Common Stock on the transaction date.

• Repayment of Promissory Note

  The shares were received as partial repayment of a promissory note, indicating a strategic increase in direct ownership by the controlling family.

• Dolan Family Activity

  This acquisition is part of the broader financial activities of the Dolan family, who are controlling shareholders, as also detailed in a concurrent Schedule 13D/A filing.

auto_awesomeAnalysis

This Form 4 details a significant acquisition of shares by the CHARLES F. DOLAN 2009 FAMILY TRUST FBO THOMAS C. DOLAN, a trust linked to the controlling Dolan family. The acquisition of 37,405 Class B Common Stock shares, valued at approximately $12.2 million, occurred as partial repayment of a promissory note. This transaction, while not an open-market purchase, represents a substantial increase in direct ownership by a key insider group, signaling continued conviction in Madison Square Garden Sports Corp. by its controlling shareholders. This activity aligns with the broader restructuring efforts by the Dolan family as disclosed in a concurrent Schedule 13D/A filing.