James Dolan, owner of the New York Knicks, has expressed strong dissatisfaction with the NBA’s new revenue-sharing model. His primary concern revolves around the league’s 11-year $76 billion media rights deal, which he believes unfairly disadvantages big-market teams by redistributing their earnings.
As reported by ESPN’s Adrian Wojnarowski, Dolan highlighted his discontent in a letter he sent to the league’s Board of Governors on Monday. In the letter, Dolan made it clear that he plans to vote against the NBA’s proposed operating budget for the 2024-2025 season and the election of a new Board of Governors chair.
Dolan’s action followed the Knicks’ pursuit of over $10 million in damages for the alleged theft of proprietary information from their lawsuit against the Toronto Raptors. Subsequently, Dolan resigned from multiple Board of Governors committees last November. He delegated his responsibilities to MSG general counsel and proxy Jamaal Lesane.
New York Knicks Owner Slams NBA’s NFL-Like Revenue Model and Its Impact on Local Markets
James Dolan has consistently criticized the league’s revenue-sharing policies. In July, the New York Knicks’ owner wrote a letter critiquing the league’s shift towards a revenue-sharing approach similar to that of the NFL. In that letter, he suggested that it diminishes the importance of local markets.
“The NBA has made the move to an NFL model, deemphasizing and depowering the local market. Soon, your only revenue concern will be the sale of tickets and what color next year’s jersey will be. Don’t worry, because due to revenue pooling, you are guaranteed to be neither a success nor a failure,” Dolan wrote.
“Of course, to get there, the league must take down the successful franchises and redistribute them to the less successful. This new media deal goes a long way to accomplishing that goal.”
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Let’s see if the Knicks owner’s words can gather enough backing to bring about any changes.
Also Read: REPORT- The New York Knicks Are Expected To Trade One Of Their Star Players Soon.
