James Dolan announces succession plan for Madison Square Garden

James Dolan, owner of the New York Knicks and Rangers, has announced a succession plan for the $4.5 billion Madison Square Garden company. He intends to pass the teams and company to his sons, following his own inheritance from his father. Dolan, who rarely speaks to the media, expressed his desire for his children to take over his role. His son, Quentin, is already a senior vice president at MSG Sports, indicating a family involvement in the business. Despite his plans for succession, Dolan stated he does not envision stepping away from his position. He emphasized the importance of family control over the company and its assets.