Madison Square Garden Sports Corp.

Madison Square Garden Sports Corp. (NYSE: MSGS) operates as a premier sports entertainment company owning and operating iconic professional sports franchises in the nation's largest media market. The company's website is located at www.msgsports.com.

The core business centers on the ownership and operation of the New York Knickerbockers of the National Basketball Association and the New York Rangers of the National Hockey League, both of which play their home games at Madison Square Garden Arena, known as The World's Most Famous Arena. The company also operates two development league affiliates: the Westchester Knicks of the NBA G League and the Hartford Wolf Pack of the American Hockey League. Additionally, the company owns and operates the Madison Square Garden Training Center in Greenburgh, New York, a 114,000 square-foot professional sports performance facility featuring basketball courts and an NHL regulation-sized hockey rink.

As of June 30, 2026, the company employed 522 full-time employees and 495 part-time employees, with approximately 11.7 percent represented by unions. The company generates revenue through multiple streams including ticket sales, media rights agreements, sponsorship and signage arrangements, suite and premium hospitality offerings, and merchandise sales. The company maintains multi-year local media rights agreements with MSG Networks for telecast and radio rights to Knicks and Rangers games, with terms extending through the 2028-29 seasons. National media rights revenues flow through pro-rata sharing arrangements with the NBA and NHL.

The company's competitive advantages include iconic global brands with deep historical significance, a loyal and passionate fan base spanning diverse demographics, strategic partnerships with MSG Entertainment for integrated marketing and hospitality solutions, and a seasoned management team with expertise in team operations, event presentation, and premium hospitality. The company benefits from long-term arena license agreements with MSG Entertainment extending through June 2055.

In February 2026, the company's board authorized exploration of a potential spin-off transaction that would separate the Rangers business from the Knicks business, creating two distinct publicly traded companies. The proposed transaction, referred to as the Rangers Distribution, would be structured as a tax-free distribution to stockholders.