Business
MADISON SQUARE GARDEN SPORTS CORP. REPORTS FISCAL 2025 THIRD QUARTER RESULTS
Madison Square Garden Sports Corp. (NYSE: MSGS) today reported financial results for the fiscal third quarter ended March 31, 2025.
About this update from Madison Square Garden Sports Corp.
[{"type":"text","content":"NEW YORK, May 2, 2025 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE: MSGS) today reported financial results for the fiscal third quarter ended March 31, 2025.","length":179,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/MSG SPORTS, LLC)","displaySize":"","headline":null,"caption":"(PRNewsfoto/MSG SPORTS, LLC)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":71,"url":"https://media.zenfs.com/en/prnewswire.com/988d490f310c810e49ada36e5d4e80c9"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/BAqp8negnQvcMHXjf4fGeA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEyNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/988d490f310c810e49ada36e5d4e80c9","width":400,"height":71}},"href":"https://mma.prnewswire.com/media/1993251/MSG_Sports_Logo_NEW_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Fiscal 2025 third quarter operating results reflected growth in average per-game revenues, including for tickets, sponsorship and premium hospitality offerings, across a combined two fewer New York Knicks ("Knicks") and New York Rangers ("Rangers") games played at the Madison Square Garden Arena ("The Garden") as compared to the prior year quarter. In addition, fiscal 2025 third quarter operating results reflected the impact of expected reductions in local media rights fees as a result of proposed amendments to the Knicks' and Rangers' local media rights agreements with MSG Networks Inc. ("MSG Networks") (as announced on April 25, 2025 and discussed in further detail in the Other Matters section of this earnings release), as well as the impact of the Knicks' and Rangers' rosters for the 2024-25 seasons.","length":870,"tagName":"p"},{"type":"text","content":"In March, the Company launched its 2025-26 Knicks and Rangers season ticket renewal initiative, which has seen strong demand to date. Subsequent to the end of the fiscal 2025 third quarter, both teams concluded their regular seasons, with the Knicks currently competing in the NBA playoffs.","length":290,"tagName":"p"},{"type":"text","content":"For the fiscal 2025 third quarter, the Company generated revenues of $424.2 million, a decrease of $5.8 million, or 1%, as compared to the prior year period. In addition, the Company reported operating income of $32.3 m...