• Loading stock data...
Friday, October 31, 2025
Want a chance to win $250 and free FOS gear? Take our quick reader survey. Take the survey here

MSG Sports Hits $1B Revenue Record, Fueled by Playoff Success

  • The parent company of the NHL’s Rangers and NBA’s Knicks posts record revenue and operating income.
  • Concern continues about the local impacts of the NBA’s new media-rights deals.
Brad Penner-USA TODAY Sports

James Dolan has reaffirmed one of the oldest maxims in sports: Winning sells.

Dolan, owner of the NHL’s Rangers and NBA’s Knicks, and his Madison Square Garden Sports Corp. reported Tuesday a record-level set of corporate earnings that showed some of the impact from the deep playoff runs enjoyed this past spring by the two teams.

MSG Sports said it posted record revenue of $1.03 billion for its fiscal 2024, up by 16% from the prior year—and operating income of $146 million, an increase of 71% and also a company record. For the fiscal fourth quarter ending June 30, MSG Sports generated $227.3 million revenue, up by 79% year over year, and $52.3 million in operating income, dramatically reversing a comparable loss of $12.2 million from that period in 2023.

The figures follow a high-profile quarter in which both the Knicks and Rangers reached the second round of their respective league playoffs, the first time that’s happened since 2013, while the hockey team advanced to the Eastern Conference finals. The postseason runs helped recall the team’s famed summer of 1994 that ended with a Stanley Cup title for the Rangers and seven-game NBA Finals loss for the Knicks.

“Our fans’ enthusiastic support for our teams this past year was evident in many areas of our business, from ticket sales and per-cap spending at the Garden to local TV ratings and increased engagement on social [media],” said MSG Sports COO Jamaal Lesane, in an earnings call with analysts. 

There is already a carryover to the upcoming NHL and NBA seasons, with the two teams’ combined ticket renewal rates standing at about 94%.

Regional Angst

In the earnings call, Madison Square Garden Sports also continued the objections from Dolan about the NBA’s recently completed $77 billion set of national media-rights deals. Dolan has argued the agreements, despite the huge increase in fees compared to the current pacts, cut into his ability to generate revenue from local broadcasts.

“The [regional sports network] industry is already facing a challenging environment,” Lesane said. “The reduction in local telecasts [in the new NBA deals] further impacts this valuable part of our ecosystem, which teams have relied on to drive enhanced fan engagement.”

More Dolan Growth

The New York sports teams are not the only growing part of the Dolan empire. The Sphere, the next-generation $2.3 billion venue in Las Vegas that opened last year to great fanfare, continues to awe both sports and music fans. The NHL recently used the building to great success for its 2024 draft, while UFC will be in there for an event Sept. 14. Most recently, Dead & Company completed a 30-date residency there, following prior concert stints by U2 and Phish.

Sphere Entertainment Co., the corporate entity that includes the Sphere and Dolan’s RSN operations, will report its next set of quarterly earnings Wednesday.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dec 17, 2024; Las Vegas, Nevada, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) celebrates with the trophy and teammates after winning the Emirates NBA Cup championship game against the Oklahoma City Thunder at T-Mobile Arena.

NBA Cup Returns for Year 3 With Increased $530,000 Prize

Players on the championship team will receive more than $530,000.

Frozen Frenzy Ratings Climb 20% Despite Scheduling Complaints

The hockey event posts a 20% viewership bump, despite World Series competition.
Rich Paul
exclusive

Rich Paul, Max Kellerman in Talks for Show With The Ringer

“The Ringer” sold to Spotify in 2020.
Apr 1, 2025; Atlanta, Georgia, USA; Portland Trail Blazers head coach Chauncey Billups talks to forward Toumani Camara (33) during the game against the Atlanta Hawks during the second half at State Farm Arena.

Why the NBA Betting Scandal Was Inevitable—and What Comes Next

Betting issues will exist “at all levels for the foreseeable future.”

Featured Today

Oct 28, 2025; Los Angeles, California, USA; Los Angeles Dodgers two-way player Shohei Ohtani (17) pitches during the fifth inning against the Toronto Blue Jays during game four of the 2025 MLB World Series at Dodger Stadium.

Shohei Ohtani Card Market Is Surging—With No Signs of Slowing

Cards have spiked hundreds of thousands of dollars from their initial value.
September 21, 2025; Santa Clara, California, USA; NFL commissioner Roger Goodell before the game between the San Francisco 49ers and the Arizona Cardinals at Levi's Stadium
October 26, 2025

NFL Fall Meeting: 7 Big Topics Among Team Owners 

Media, facilities, and labor highlight some of the key areas of concern.
Ohio State Buckeyes running back Isaiah West (32) runs the ball in the second half at Camp Randall Stadium on Saturday, Oct. 18, 2025 in Madison, Wisconsin
October 25, 2025

NIL Has Birthed a Third-Party Cottage Industry—and It’s a Mess

There’s no limit to how much players can make from NIL deals.
Christie's
October 21, 2025

Lou Gehrig’s $4M Jersey and the Exploding Sports Memorabilia Market

An ultra-rare sports collection is about to hit the auction block.
Oct 29, 2025; Los Angeles, California, USA; Los Angeles Dodgers co-owner Mark Walter looks on in the eighth inning between the Toronto Blue Jays and the Los Angeles Dodgers during game five of the 2025 MLB World Series at Dodger Stadium.

NBA Approves Mark Walter As New Lakers Owner

Walter has turned the Dodgers into a powerhouse.
October 27, 2025

Dodgers Depth, Blue Jays Glue Guys Are Defining the World Series

Yamamoto, Smith, and Glasnow are playing key roles for MLB’s top spenders.
Oct 23, 2025; St. Louis, Missouri, USA; Utah Mammoth center Logan Cooley (92) is congratulated by teammates after scoring against the St. Louis Blues during the first period at Enterprise Center
October 29, 2025

Cooley Signing Adds to Utah’s Pursuit of Early NHL Success

In its second season, Utah is committed to winning as fast as possible.
Sponsored

How HOKA is Reimagining the NIL Relationship

TNT Sports is going all-in on college athletics—bringing fans closer and giving brands a powerful new way to connect.
October 26, 2025

Blue Jays’ World Series Run Is Just Part of Rogers’ Big Sports..

Buying more MLSE equity and a recapitalization of sports assets are planned.
Fred Warner
October 25, 2025

Most of the 49ers’ Record Cap Number Isn’t on the Field

The 49ers are winning despite ranking 31st on spending on active players.
Oct 23, 2025; Toronto, ON, Canada; Signage in place on the dug out before game one of the World Series between the Los Angeles Dodgers and Toronto Blue Jays at Rogers Centre.
October 24, 2025

World Series Viewership Will Be Different This Year

The Canadian presence in the World Series creates a unique viewership situation.
Tom Dundon
exclusive
October 22, 2025

Sale of Trail Blazers to Tom Dundon Will Take Multiple Years to..

Dundon is buying the team at a $4.25 billion valuation.