James Dolan calls on NYC business leaders to take a stand in governor race

The call to action

James Dolan is highkey frustrated with New York City’s business elite, and he’s making sure they know it. The owner of the Knicks and Madison Square Garden sent a pointed email to Rob Speyer, the co-chairman of the Partnership for the City of New York, calling on the group to stop playing it safe in the state’s gubernatorial race.

Dolan is currently bankrolling a Super PAC called Strong and Safe New York to back Republican candidate Bruce Blakeman. He’s clearly not feeling the incumbent, Governor Kathy Hochul, and he thinks the city’s biggest trade group—which represents titans in real estate, tech, and finance—is giving her a free pass.

The tension in the room

Real talk: the vibes are pretty tense. Dolan’s beef stems from a fear that New York is heading toward disaster. He’s explicitly worried that if Hochul wins a second term, the city will be hit with a "wealth tax" and other policies that he claims are "anti-business." He pointedly reminded Speyer that Mayor Zohran Mamdani can’t hike taxes without the governor’s green light, and he doesn’t believe Hochul will "hold the line" against those tax increases.

In his letter, Dolan didn't hold back, essentially telling the Partnership to put their money where their mouth is. He suggested they either use their own advocacy funds to get out the vote for pro-growth policies or hand those resources over to his PAC. "The stakes are far too high to sit on the sideline," Dolan wrote.

The response

Not everyone is on board with Dolan’s aggressive approach. Rob Speyer’s firm has donated nearly $100k to Hochul’s campaign since 2021, showing they aren't exactly aligned with Dolan’s vision.

Meanwhile, Steve Fulop, the CEO of the Partnership, hit back with a statement saying the group is strictly nonpartisan. He confirmed they won't be picking sides, noting, "Governor Hochul addressed our membership earlier this year, and we intend to extend the same opportunity to Bruce Blakeman."

Why it matters

With the November 3 election just three weeks away, Dolan is trying to create a main character moment for the business community. It’s a classic power struggle over the future of NYC’s economy, and it shows just how deep the divide is between local leaders when it comes to the state’s political direction.