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The diagnosis makes Dolan, who is also the executive chairman of the Madison Square Garden Company, the first major American professional sports team owner to have a confirmed case.
“He has been in self-isolation and is experiencing little to no symptoms,” the team said in a statement. “He continues to oversee business operations.”
New York has been the state struck heaviest among a global pandemic of COVID-19, with at least 52,318 cases reported as of Saturday afternoon and more than 700 deaths. Roughly half of those cases have been in or around New York City, the Knicks’ home city.
For most people, the novel coronavirus causes mild or moderate symptoms, which can include fever and cough but also milder cases of pneumonia, sometimes requiring hospitalization.
The illness causes a greater risk of death for people with underlying health problems and for older adults.
The Associated Press contributed to this report.