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Madison Square Garden Sports (MSGS) has issued an announcement.
Madison Square Garden Sports Corp. has appointed Jamaal Lesane as Chief Operating Officer through a new employment agreement effective July 1, 2024. Lesane, who steps up from Executive Vice President and General Counsel, will earn a minimum annual salary of $1 million and a bonus opportunity of 125% of his salary. He’s also set to join the company’s long-term incentive plans with a target value of at least $1.5 million. The agreement includes severance benefits and accelerated vesting of awards if Lesane exits under certain conditions before June 30, 2027. Additionally, Lesane has agreed to a one-year non-compete clause post-employment.
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