Madison Square Garden has re-upped its deal for private jet travel and maintenance for the blues band fronted by company CEO and chairman James Dolan, as well as Dolan’s father Charles Dolan.
Disclosed last month in an 8-k filing, the agreement covers a Gulfstream Aerospace G550 owned by Madison Square Garden Sports and Entertainment, a Gulfstream Aerospace G-V owned by a company controlled by Charles Dolan and a Gulfstream Aerospace G450 owned by a company controlled by James Dolan. As part of the lease agreement, Charles Dolan and MSG S&E can use each other’s aircrafts, and James Dolan and his band can also use MSG S&E’s jet or lease Dolan’s jet back to MSG S&E.
The three-way jet lease deal replaces a similar one-year agreement from last year and allows the two men and MSG S&E to share aircraft as needed, although the sharing of the jets between father and son is not part of the agreement. Both men have agreed to pay MSG S&E $14,584 for “Airport Support Services” plus reimbursements for things like “access to pilots, crew and maintenance personnel, aircraft maintenance, Federal Aviation Administration compliance reporting, hangar, office and shop facilities, flight scheduling and dispatch services, training, record keeping and other services necessary and appropriate for the support of aircraft.”
As part of the deal, MSG S&E and the Dolans will keep track of who is using whose jet and to make sure the Dolan’s pay MSG S&E for use of the company’s G550 when used for personal travel, while MSG S&E reimburses the Dolans for their use of their planes for business travel. According to the document, based on previous lease agreements, MSG S&E’s annual usage of both Charles and James Dolan’s planes exceeds the men’s personal use of MSG S&E’s G550 meaning “MSG S&E would pay an additional hourly rate with respect to excess hours intended to cover the additional costs.”
The agreement indicates that Dolan plans to transport his band JD and the Straight Shot using either his G450 or the MSG S&E’s G550 — technically the band is the legal entity that operates the G450, while a company Dolan created called Quart 2C, LLC actually owns the plane. The band’s future touring plans are unclear — their website doesn’t list any current touring dates — but the band did just wrap up a number of dates opening for The Eagles, Chicago and The Doobie Brothers in March and April. In 2017, JD and the Straight Shot released a 10-track album titled Good Luck and Good Night, the band’s sixth studio album, earning positive reviews from sites like Eclectic Music Lover which said the album “deliver(ed) pleasing and sometimes topical songs that range from introspective folk ballads to catchy bluegrass foot-stompers.”
So how much does it cost to own a private Gulfstream like Dolan’s G450? According to FAA records, Dolan’s jet was manufactured in 2009, which puts it in a price range of about $15 million, according to website Sherpa Report which tracks the costs of luxury travel. The G450 is equipped with two Rolls-Royce Tay Mk 611-8C engines and depending on passenger load, has a range of 4,300 miles to 3,700 miles. According to Sherpa, the G450 can transport up to 14 passengers.
According to the FAA records, MSG S&E’s G550 was also built in 2009 and would cost approximately $18-$20 million today, while Charles Dolan’s Gulfstream Aerospace G-V was built in 2001 and would cost between $9 to $11 million to purchase today.
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