Madison Square Garden Sports Corp.MSGS

Madison Square Garden Sports Corp. Commitments Disclosure

10-KFiled Aug 12, 20252 min read
Commitments and Contingencies
Contractual Obligations and Off-Balance Sheet Arrangements
The Company has certain future cash payments required under contracts entered into by the Company in the normal course of business.
As of June 30, 2025, future cash payments required under contracts entered into by the Company in the normal course of business in excess of one year are as follows:
Off-Balance Sheet Commitments(a)
Contractual
Obligations
reflected on
the Balance
Sheet(b)
Total(c)
Fiscal year ending June 30, 2026$291,215 $68,584 $359,799 
Fiscal year ending June 30, 2027278,966 15,239 294,205 
Fiscal year ending June 30, 2028198,390 15,498 213,888 
Fiscal year ending June 30, 202973,421 3,875 77,296 
Fiscal year ending June 30, 203040,083 1,840 41,923 
Thereafter
42,635 7,358 49,993 
$924,710 $112,394 $1,037,104 
_________________
(a)Consist primarily of the Company’s obligations under employment agreements that the Company has with its sports teams’ personnel that are generally guaranteed regardless of employee injury or termination.
(b)Contractual obligations reflected on the balance sheet consist principally of the Company’s obligations under employment agreements that the Company has with certain of its professional sports teams’ personnel where services have been fully performed and that are being paid on a deferred basis.
(c)Pension obligations have been excluded from the table above as the timing of the future cash payments is uncertain. See Note 14 for further information on the Company’s pension obligations. In addition, see Note 7 for information on the contractual obligations related to future lease payments, which are reflected on the consolidated balance sheet as lease liabilities as of June 30, 2025.
See Note 13 for further details of the outstanding balances under the Knicks Revolving Credit Facility, the Rangers Revolving Credit Facility and the Rangers NHL Advance Agreement (as defined below).
Legal Matters
The Company is a defendant in various lawsuits. Although the outcome of these lawsuits cannot be predicted with certainty (including the extent of available insurance, if any), management does not believe that resolution of these lawsuits will have a material adverse effect on the Company.

Historical Timeline

Fiscal YearFiled
2025Aug 12, 2025Showing above
2024Aug 13, 2024
2023Aug 17, 2023
2022Aug 18, 2022
2021Aug 19, 2021
2020Aug 31, 2020
2019Aug 20, 2019
2018Aug 17, 2018
2017Aug 17, 2017
2016Aug 19, 2016

About Commitments Disclosures

Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.

Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.

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