MSG Sports, which owns the New York Knicks and Rangers (NHL), reported $1.039 billion in revenue over the fiscal year that ended June 30.
MSG Sports announced its fiscal 2025 results, led by the New York Knicks’ run to the Eastern Conference Finals and nine home playoff games at Madison Square Garden.
Ticket, sponsorship, and suite revenues rose on a per-game basis, but lower local media rights fees and roster expenses hurt profits.
For the year, revenue reached $1.039 billion, up 1% from last season. Operating income dropped to $14.8 million from $146 million, while adjusted operating income fell to $38.2 million.
In the fourth quarter of the fiscal year, revenue fell 10% to $204 million, with an operating loss of $22.6 million compared to a $52.3 million profit a year earlier.
"Fiscal 2025 was highlighted by growth in per-game revenues and the Knicks' postseason run to the Eastern Conference Finals" said Executive Chairman and CEO James L. Dolan.
"While it also reflected our investment in our teams and the changing local media landscape. Looking ahead, we expect continued strong demand for the Knicks and Rangers and remain confident in the value of owning two professional sports franchises," he added.
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