Madison Square Garden Sports Corp.

Listed Company

MSGSCIK 0001636519NYSELarge AcceleratedServices-Miscellaneous Amusement & RecreationNevadaFY ends Jun 30

Period

FY 2025

Revenue

$1.04B

Net Income

$-22.44M

Total Assets

$1.47B

Equity

$-281.44M

Shares Out

24.93M

Op. Cash Flow

$91.61M

Business

Madison Square Garden Sports Corp. owns and operates a portfolio of professional sports franchises and related sports businesses. It fields and manages teams including the New York Knicks, New York Rangers, Westchester Knicks and Hartford Wolf Pack, and provides ticketing, premium suites and clubs, sponsorships, signage, merchandise, live event presentation and team performance services. Key business divisions include its sports franchises, a professional sports teams performance center, media and sponsorship sales, and long-term arena license agreements with MSG Entertainment. The Company’s operations and distribution are primarily concentrated in the United States, focused on the New York City metropolitan market, and include local and national media rights and corporate hospitality channels.

Summary from filing dated 2025-08-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Revenues	1,039	1,027	887	821	416
Direct operating expenses	755	617	549	501	282
Selling, general and administrative expenses	266	261	250	230	207
Depreciation and amortization	3	3	4	5	6
Operating income	15	146	85	86	−78
Interest income	4	3	2	313,000	32,000
Interest expense	−22	−28	−23	−12	—
Miscellaneous (expense) income, net	−14	−16	25	−726,000	−346,000
Other income (expense)	−32	−40	5	−12	−11
(Loss) income before income taxes	−17	106	90	74	−89
Income tax expense	−5	−47	−44	−25	73
Net (loss) income	−22	59	46	49	−16
Less: Net loss attributable to nonredeemable noncontrolling interests	0	0	−2	−2	−2
Net (loss) income attributable to Madison Square Garden Sports Corp.s stockholders	−22	59	48	51	−14
Basic (loss) earnings per common share attributable to Madison Square Garden Sports Corp.s stockholders (USD per share)	−0.93	2.45	1.9	2.11	−0.58
Diluted (loss) earnings per common share attributable to Madison Square Garden Sports Corp.s stockholders (USD per share)	−0.93	2.44	1.89	2.1	−0.58
Basic (in shares)	24	24	24	24	24
Diluted (in shares)	24	24	24	24	24

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	145	89	40	91	65
Restricted cash	9	6	61,000	0	7
Prepaid expenses	43	31	25	19	17
Other current assets	25	25	28	20	16
Total current assets	251	217	149	205	185
Property and equipment, net	29	29	31	33	36
Right-of-use lease assets	760	695	715	687	704
Indefinite-lived intangible assets	104	104	104	112	112
Goodwill	227	227	227	227	227
Investments	55	63	67	5	—
Deferred tax assets, net	35	0	—	0	16
Other assets	13	14	22	33	29
Total assets	1,473	1,346	1,315	1,302	1,310
Debt	24	30	30	30	30
Employee-related costs	99	134	144	119	90
League-related accruals	197	121	107	75	39
Other accrued liabilities	13	22	18	7	16
Operating lease liabilities, current	53	50	50	44	42
Deferred revenue	164	149	157	132	131
Total current liabilities	564	522	521	438	368
Long-term debt	267	275	295	220	355
Operating lease liabilities, noncurrent	841	750	746	700	691
Defined benefit obligations	4	4	5	5	6
Other employee-related costs	78	43	49	43	58
Deferred tax liabilities, net	0	17	24	9	0
Deferred revenue, noncurrent	662,000	1	13	31	32
Total liabilities	1,754	1,613	1,652	1,447	1,512
Commitments and contingencies (see Note 12)	—	—	—	—	—
Preferred stock, par value $0.01, 15,000 shares authorized; none outstanding as of June 30, 2025 and 2024	0	0	—	—	—
Additional paid-in capital	15	19	17	18	23
Treasury stock, at cost, 960 and 1,025 shares as of June 30, 2025 and 2024, respectively	−159	−170	−179	−128	—
Accumulated deficit	−138	−115	−174	−36	−79
Accumulated other comprehensive loss	−897,000	−952,000	−1	−1	−2
Total equity	−281	−266	−337	−147	−204
Total liabilities and equity	1,473	1,346	1,315	1,302	1,310

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	3	3	4	5	6
Share-based compensation expense	18	21	25	24	30
(Benefit from) provision for deferred income taxes	−52	−7	15	24	−74
Unrealized loss (gain) on equity investments with readily determinable fair value and warrants	12	11	−27	461,000	0
Other non-cash adjustments	6	7	3	2	1
Accounts receivable, net	8	6	6	27	−67
Net related party receivables	29	−16	12	−21	−6
Prepaid expenses and other assets	−13	4	−6	−9	−22
Investments	−3	−3	−11	−3	0
Accounts payable	−574,000	803,000	−2	9	−75,000
Net related party payables	−2	1	−14	3	−863,000
Accrued and other liabilities	66	−398,000	69	40	49
Deferred revenue	15	−20	8	772,000	35
Operating lease right-of-use assets and lease liabilities	28	25	24	27	29
Net cash provided by operating activities	92	92	152	178	−35
Capital expenditures	−4	−1	−1	−932,000	−466,000
Cash outflow associated with disposal of subsidiary	0	0	−3	0	—
Purchases of investments	−3	−7	−14	−2	0
Other investing activities	100,000	0	0	−2	0
Net cash used in investing activities	−7	−9	−18	−3	−466,000
Accelerated share repurchase	0	0	−75	0	—
Taxes paid in lieu of shares issued for equity-based compensation	−12	−8	−18	−18	−14
Dividends paid	−633,000	−701,000	−171	0	0
Proceeds from revolving credit facilities	0	75	215	0	30
Repayment of revolving credit facility	−8	−95	−140	−135	−25
Repayment of NHL advance	−6	0	0	—	—
Other financing activities	0	0	4	0	608,000
Net cash used in financing activities	−26	−29	−185	−156	17
Net increase (decrease) in cash, cash equivalents and restricted cash	58	54	−51	19	−19
Capital expenditures incurred but not yet paid	26,000	40,000	256,000	128,000	165,000

Filings

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