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Knicks Owner James Dolan Sued By MSG Shareholders Over 'Excessive' Pay

Shareholders have sued Madison Square Garden Company CEO James Dolan, claiming that the New York Knicks owner is overpaid and that he spends more time his band JD & the Straight Shot than actually being an executive.

According to filings by MSG, Dolan has been paid almost $76 million over the past three years, with the lawsuit saying that the MSG's peer companies pay their CEO's an average of $17 million over the same time frame.

MSG, which also owns the WNBA's New York Liberty, New York Rangers of the National Hockey League and Radio City Music Hall, vowed to fight the lawsuit.