Madison Square Garden Sports Corp. Class A Common Stock (New) (MSGS)
221.10
-0.62 (-0.28%)
Madison Square Garden Sports Corp is a prominent sports and entertainment company that operates professional sports teams and venues, most notably in New York City
The company owns and manages the New York Knicks, a National Basketball Association team, and the New York Rangers, a National Hockey League team. Additionally, it is engaged in various sports marketing and promotional activities, providing fans with unforgettable experiences through live events and interactive engagements. Through its venues, including the iconic Madison Square Garden, the company hosts a diverse range of athletic competitions and entertainment events, making it a key player in the sports and live entertainment industry.
A new NFL rule allows teams to sell minority stakes to private equity companies. The Miami Dolphins are one of the first to use the rule and fans can buy stock in the new investor.
The Boston Celtics are one of the biggest preseason favorites to win the 2025 NBA Championship. A publicly traded NBA team could provide increased competition.
The Boston Celtics are now up for sale after the ownership group led the team to two NBA titles and locked up star players for hundreds of millions of dollars.
Madison Square Garden Sports reports Q3 2024 revenue of $429.95M, above analyst estimate of $420.74M. Revenue up 12% YoY due to higher ticket, suite, F&B sales, and media fees.
Madison Square Garden Sports Corp. shares are rising despite playing fewer Knicks and Rangers games in Q2 due to higher-than-expected revenue, driven by increased local media rights fees and league distributions.
The publicly traded New York Knicks and New York Rangers could be worth more for shareholders in a potential sale. A legal challenge could be an item to watch for shareholders.
