Company News

NEW YORK, N.Y., February 4, 2025 – Madison Square Garden Sports Corp. (NYSE: MSGS) today reported financial results for the fiscal second quarter ended December 31, 2024.

During the fiscal 2025 second quarter, the New York Knicks (“Knicks”) and New York Rangers (“Rangers”) began their 2024-25 regular seasons, playing a combined three more games at the Madison Square Garden Arena (“The Garden”) as compared to the prior year quarter. In addition to the positive impact of those additional home games, the Company’s results also reflect ongoing strong demand for its teams. Fiscal 2025 second quarter average per-game revenues for every key revenue category – tickets, suites, sponsorship and food, beverage and merchandise – exceeded results for the prior year period. Operating income and adjusted operating income results also reflect the impact of the Knicks’ and Rangers’ rosters for the 2024-25 seasons.

For the fiscal 2025 second quarter, the Company generated revenues of $357.8 million, an increase of $30.9 million, or 9%, as compared to the prior year period. In addition, the Company reported operating income of $13.3 million, a decrease of $15.5 million, or 54%, and adjusted operating income of $20.2 million, a decrease of $16.8 million, or 45%, both as compared to the prior year period.⁽¹⁾

Madison Square Garden Sports Corp. Executive Chairman and CEO James L. Dolan said, “In the fiscal second quarter, fan enthusiasm and robust corporate demand helped drive growth in per-game revenues across all key areas of our business. We remain confident in the fundamentals of our business and our ability to drive long-term shareholder value.”

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