Madison Square Garden Sports Corp.

What Madison Square Garden Sports Corp. does

Madison Square Garden Sports Corp. is a publicly traded sports holding company (NYSE: MSGS) that owns and operates two of the most valuable professional sports franchises in North America: the New York Knicks of the NBA and the New York Rangers of the NHL, complemented by developmental affiliates the Westchester Knicks (NBA G League) and the Hartford Wolf Pack (AHL), an esports property (Knicks Gaming in the NBA 2K League), and the nonprofit Garden of Dreams Foundation. The company operates from Madison Square Garden at 2 Pennsylvania Plaza in New York City and employs between 1,001 and 5,000 people across teams and corporate functions.

The company's revenue model blends several streams with materially different economic structures: (i) transactional revenue from individual game tickets, season tickets (94% renewal rate), and premium seating/suites, where each playoff home game generates approximately $12M in ticket revenue; (ii) recurring subscription-like revenue from national media rights under the NBA's new 11-year, $76B league deal and local MSG Networks distribution, plus league revenue-sharing distributions; (iii) sponsorship and advertising revenue transacted via multi-year contracts with corporate partners including Anheuser-Busch (100+ year relationship), PepsiCo, Infosys, PwC, GAME 7, Impossible Foods, and others; and (iv) merchandise sales through Fanatics (the official merchandise partner) and concessions. Corporate communications, community programs through the Garden of Dreams Foundation (which supports over 480,000 young people across 30 tri-state organizations), and in-arena experiences form the operational backbone.

In fiscal Q2 2026 (ended December 31, 2025) MSG Sports reported revenue of $403.4M, up 13% year-over-year, with a market capitalization of approximately $9.3B as of June 2026 and franchise valuations totaling ~$13.75B (Knicks at $9.75B and Rangers at $4B per Forbes 2025). The company was created in April 2020 when The Madison Square Garden Company split sports from entertainment, and in February 2026 its board approved a plan to explore separating Knicks and Rangers into two distinct publicly traded companies to address the so-called Dolan discount of approximately 30-40%. James L. Dolan serves as Executive Chairman and CEO.

Name

Madison Square Garden Sports Corp.

Legal name

MSG Sports LLC

Website

https://www.msgsports.com/

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

251–500 employees

Short description

MSG Sports (NYSE: MSGS) is a publicly traded holding company that owns and operates the New York Knicks (NBA), New York Rangers (NHL), their G League and AHL development affiliates, and Knicks Gaming, generating revenue from tickets, media rights, sponsorships, and merchandise at Madison Square Garden in New York City.

Ownership category

akta.pro rank

Product category

Professional Sports Franchise Ownership & Operations

NAICS

Sports Teams and Clubs (711211), Spectator Sports (7112)

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Franchise Ownership Groups & Multi-Club Organizations (Multi-team owners, holding companies) (MPAKABAJ)

akta.pro secondary industries

Arenas & Indoor Sports Centers (MPAKAEAB), Sports Community Relations & Grassroots Program Management (MPAKAKAJ)

Keywords

• Professional sports franchises
• Live sports entertainment
• Sports media rights
• Arena sponsorship sales
• Team merchandise licensing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Ticket sales and premium seating: Revenue from individual game tickets, season ticket packages, and premium seating including suites and clubs at Madison Square Garden for Knicks and Rangers games. Each playoff home game generates approximately $12 million in ticket revenue.
2. Media rights: National media rights fees from NBA and NHL league deals, plus local media rights agreements with MSG Networks. The NBA's new 11-year, $76 billion national media rights deal benefits the league and teams with increased distributions.
3. Sponsorship and advertising: Corporate sponsorship revenue from arena signage, digital activation, official partners, jersey patches, and in-game promotional rights across Knicks and Rangers properties.
4. Merchandise and concessions: Revenue from team merchandise, apparel, and food/beverage concessions at games and through retail partners. Merchandise revenue increased $4 million year-over-year during the Knicks' 2026 playoff run.
5. League distributions: Revenue sharing distributions from NBA and NHL leagues based on revenue sharing formulas and collective bargaining agreements.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Madison Square Garden Sports Corp. owns, operates, and commercializes professional sports franchises, primarily the NBA's New York Knicks and the NHL's New York Rangers, along with their development-league affiliates (Westchester Knicks, Hartford Wolf Pack) and the Knicks Gaming esports property. The company generates revenue from ticket sales and premium seating at Madison Square Garden, national and local media rights, corporate sponsorships and advertising, team merchandise and concessions, and league revenue-sharing distributions.

Product overview

Madison Square Garden Sports Corp. operates a portfolio of professional sports properties, primarily anchored by two major league franchises: the New York Knicks (NBA) and New York Rangers (NHL). The portfolio extends through developmental teams including the Westchester Knicks (NBA G League) and Hartford Wolf Pack (AHL), an esports presence via Knicks Gaming in the NBA 2K League, and the charitable Garden of Dreams Foundation. The company also operates the MSG Training Center for athlete performance. This is a sports team ownership and management company, not a software or technology product company.

Differentiator

Problem solved

Functional benefit

Brands

• New York Knicks: NBA basketball team - professional sports franchise
• New York Rangers
• Westchester Knicks
• Hartford Wolf Pack
• Knicks Gaming
• Garden of Dreams Foundation
• MSG Training Center

Products and services

• New York Knicks NBA professional basketball franchise owned and operated by MSG Sports, competing in the National Basketball Association and based at Madison Square Garden.
• New York Rangers NHL professional hockey franchise owned and operated by MSG Sports, competing in the National Hockey League and based at Madison Square Garden.
• Westchester Knicks NBA G League developmental affiliate of the New York Knicks, serving as a talent development platform.
• Hartford Wolf Pack AHL minor-league hockey team operating as the developmental affiliate of the New York Rangers.
• Knicks Gaming Esports franchise competing in the NBA 2K League, representing the Knicks in competitive gaming.
• Garden of Dreams Foundation Charitable foundation associated with MSG Sports that supports youth education and athletic programs, having impacted over 480,000 young people since 2006 through partnerships with 30 organizations across the tri-state area.
• MSG Training Center Professional sports performance and training facility operated by MSG Sports for athlete development of its NBA and NHL franchises.

Quantifiable outcome

• NBA championship win after 53-year drought generating $140+ million in playoff revenue
• +3 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

17 partnerships are on record, tiered core, minor and flagship.

• Garden of Dreams FoundationcoreOthers · 8 June 2026The Knicks auctioned Celebrity Row seats for NBA Finals Game 3, raising $1 million for Garden of Dreams Foundation—the single largest donation in the foundation's history. The foundation supports children facing obstacles through partnerships with 30 organizations across the tri-state area, having impacted over 480,000 young people since 2006.
• Impossible FoodscoreGTM or Marketing Partner · 8 April 2026Impossible Foods named Official Plant-Based Burger Partner of Madison Square Garden, New York Knicks, and New York Rangers. Partnership includes dedicated Impossible Grille concession stand on sixth floor concourse and prominent brand promotion through LED signage and GardenVision features during games.
• BlueairminorGTM or Marketing Partner · 11 March 2026Blueair named Official Air Care Partner of the New York Knicks. Blueair will integrate air wellness products into the Knicks training center and activate across digital and physical platforms at Knicks games.
• InfosyscoreTechnology or Integration · 2 February 2026Infosys extended and expanded partnership as Official Digital Innovation Partner across MSG properties including Knicks and Rangers. The Theatre at MSG was renamed Infosys Theater at MSG. Partnership includes AI-powered fan engagement technology using Infosys Topaz, prominent branded locations, and digital platform integration.
• SaieminorGTM or Marketing Partner · 15 January 2026Saie, a clean beauty brand, named Official Partner of the New York Knicks. Partnership includes in-arena LED signage, GardenVision features during home games, and prominent placement on the 7th Avenue LED Marquee sign.
• Waterloo Sparkling WaterminorGTM or Marketing Partner · 14 January 2026Waterloo Sparkling Water named Official Partner of the New York Rangers and Madison Square Garden.
• Anheuser-BuschflagshipGTM or Marketing Partner · 7 January 2026Anheuser-Busch and MSG Family of Companies expanded multi-year sponsorship agreement making Anheuser-Busch Official Sponsor across MSG Sports, MSG Entertainment, and Sphere Entertainment. Brands including Michelob ULTRA, NÜTRL Vodka Seltzer, and Cutwater receive prominent arena signage, digital displays, VIP experiences, and content integration during Knicks, Rangers games, and concerts. One of industry's longest-standing sponsorships spanning 100+ years.
• PwCcoreImplementation/ SI/ Consulting Partner · 23 December 2025PwC named Official Business Consulting Partner of Madison Square Garden, New York Knicks, and New York Rangers under expanded multi-year marketing partnership. PwC gains visibility across MSG venues including Sphere's Exosphere, GardenVision during games, MSG Networks, and high-traffic areas. Beginning in 2026, PwC became presenting partner of Knicks Season of Giving community program.
• Lenovo and MotorolacoreTechnology or Integration · 23 September 2025MSG Family of Companies launched expansive multi-year partnership with Lenovo and subsidiary Motorola as global technology powerhouse partner across MSG sports and entertainment assets.
• GAME 7flagshipGTM or Marketing Partner · 16 September 2025GAME 7, co-founded by Rangers legend Mark Messier, named first-ever Official Jersey Patch Partner of the New York Rangers. Partnership debuts with Rangers' 2025-26 centennial season, with GAME 7 appearing on all game jerseys—the first time Rangers have brought a brand partner directly onto the jersey in their 100-year history.
• Experience Abu DhabiminorGTM or Marketing Partner · 16 September 2025Experience Abu Dhabi named Official New York Knicks Patch Partner, with branding on Knicks jerseys. Part of tourism promotion partnership.
• VerizoncoreTechnology or Integration · 16 September 2025Verizon named Official Mobile Wireless Partner across MSG Family of Companies portfolio under expanded partnership.
• SnappleminorGTM or Marketing Partner · 10 April 2025Snapple named Official Tea Partner of the New York Knicks, New York Rangers, and Madison Square Garden as part of expanded beverage partnership.
• Liquid DeathminorGTM or Marketing Partner · 1 April 2025MSG Family of Companies announced integrated marketing partnership with Liquid Death, the packaged water brand, across MSG sports and entertainment properties.
• PepsiCocoreGTM or Marketing Partner · 5 March 2025MSG Family of Companies and PepsiCo expanded multi-year partnership across MSG Sports, MSG Entertainment, and Sphere Entertainment. Partnership covers beverage offerings at Knicks and Rangers games and other MSG events.
• KithminorGTM or Marketing PartnerStreetwear brand Kith capitalizing on Knicks' championship run with merchandise collaborations. Ronnie Fieg serves as Knicks' first creative director.
• FanaticscoreChannel Partner/ Reseller/ DistributorOfficial merchandise partner of the Knicks. Reported record-breaking merchandise sales of 8,000 units per minute during Knicks playoff run.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Endeavor Group Holdings: Publicly traded sports and entertainment conglomerate (NYSE: EDR) that owns/operates UFC, IMG, WME, and Professional Bull Riders. Comparable as a diversified sports-IP holding entity with global rights, talent representation, and live-event monetization overlapping MSGS's sports franchise and Arena revenue model.

Direct peers

• Fenway Sports Group: Private global sports investment firm owning the Boston Red Sox (MLB), Liverpool FC (Premier League), Pittsburgh Penguins (NHL), and minority NBA stake. Directly comparable as a multi-sport, multi-continent franchise portfolio with asset-light ownership model centered on brand and media rights.
• Harris Blitzer Sports & Entertainment: Private sports and entertainment investment firm owning/controlling the Philadelphia 76ers (NBA), New Jersey Devils (NHL), and Crystal Palace FC. Comparable multi-franchise pro-sports ownership model with prior MSG Sports CFO Paul DiCicco's tenure linking the two organizations.
• Liberty Media Corporation: Tracking-stock holding company with controlling interests in Atlanta Braves Holdings, Formula 1 Group, and SiriusXM. Operates as a multi-asset sports and media holding structure pursuing split/coverage events similar to MSGS's planned Knicks/Rangers spin-off, making it the closest publicly traded analog.
• Atlanta Braves Holdings Inc. Publicly traded pure-play sports franchise holding company (NASDAQ: BATRK), majority-owned by Liberty Media. Operates the Atlanta Braves (MLB) and surrounding mixed-use development. Closest structural comp to MSGS as a publicly traded, single-purpose franchise holding entity whose value is anchored to one anchor team plus a flagship venue district.
• Maple Leaf Sports & Entertainment: Canadian privately held sports company owned by Rogers/Bell consortium operating the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), Toronto FC (MLS), and their venues. Closest direct North American peer to MSGS in terms of running two elite NBA + NHL franchises under one umbrella with integrated venue/media rights.
• Kroenke Sports & Entertainment: Private multi-sport ownership group controlling the Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Arsenal FC (Premier League), and their home arenas. Closest private-market analog to MSGS as a multi-franchise, multi-vertical professional sports ownership company leveraging flagship venues.

Emerging players

• Manchester United plc: Publicly traded English Premier League football club (NYSE: MANU). Comparable as a publicly listed single-club global sports franchise with media rights, sponsorship, and matchday revenue mix analogous to an MSGS franchise, though in a different sport/geography.

Others

• Madison Square Garden Entertainment Corp. Sister publicly traded company under Dolan family control (NYSE: MSGE) that owns the Madison Square Garden arena and operates MSG Networks used by the Knicks and Rangers. Closest structural operating counterparty - MSGS's venue and broadcast dependencies are with MSGE - making it the most relevant adjacent peer for understanding MSGS's ecosystem economics.

Regional players

• Real Madrid CF (via its listed parent context) / Borussia Dortmund GmbH: Publicly traded European football clubs (Borussia Dortmund on Xetra as BVB). Comparable global publicly listed sports franchise peer for capital-markets comparability, though operating under European football economics rather than U.S. league structures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/nyknicks

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Madison Square Garden Sports Corp.