MSG’s $67M Knicks Bump

Afternoon Edition

August 13, 2026

Madison Square Garden Sports Corp.’s latest earnings reveal just how big the Knicks’ first NBA title in 53 years was for its business. The company’s fiscal fourth quarter—which encompassed the Knicks’ 2026 playoff run—generated $278.7 million, up 37% from the same period last year.

—Eric Fisher

First Up

Headaches continue to build for LIV Golf, as the league has still yet to announce official details of how its tumultuous 2026 season will conclude.
As the Trail Blazers still work to negotiate new lease terms for Portland’s Moda Center, the city approved $120M in funding toward a potential $600M renovation of the arena.
ESPN’s portfolio of NFL preseason game broadcasts has expanded this year thanks to the landmark league equity deal finalized this spring.
After LSU gave his number to another player, Commanders quarterback Jayden Daniels sent a cease-and-desist letter barring the school from using his NIL.

Knicks’ Title Run Creates $67 Million Bump for MSG Sports

Brad Penner-Imagn Images

The Knicks’ first NBA title in 53 years was undoubtedly big business. Now it’s becoming more clear just how much so.

Madison Square Garden Sports Corp., the parent company for the Knicks and NHL’s Rangers, said Thursday that it generated $278.7 million for its fiscal fourth quarter that encompassed the Knicks’ 2026 playoff run, up 37% from the comparable period last year. Operating income, meanwhile, swung from a prior quarterly loss of $22.6 million in 2025 to a gain of $32.2 million.

Playoff-related revenue for MSG Sports rose by $66.9 million compared to last year, when the Knicks reached the Eastern Conference finals, accounting for 89% of the total quarterly revenue bump for MSG Sports.

For the entire fiscal year, MSG Sports generated $1.16 billion in revenue, up 11%, and $28.9 million in operating income, up 95%.

Within those aggregate lifts were a series of league and company records posted during the Knicks’ championship march. Among them:

Several successive NBA milestones for single-game gate revenue. That fervent fan demand, captured by MSG Sports in the primary ticket market, was also seen in historic fashion on the resale market.
The largest single-day mark for merchandise sales in Knicks history after the team closed out its Finals win over the Spurs.
The addition of 2.2 million net new social media followers over the past year, many of them arriving during the NBA playoffs and bringing the combined following for the Knicks and Rangers to nearly 22 million.

“The Knicks’ playoff run took over New York City, from electric crowds in-arena for home games, to watch parties at various locations throughout the city, to unique activation from our marketing partners—all culminated with the championship parade attended by millions of fans,” MSG Sports COO Jamaal Lesane said on a call with analysts. “With this unprecedented momentum, we achieved a number of operational milestones.”

Looking ahead, MSG Sports is projecting further growth in several core areas, including tickets and sponsorship, as the Knicks defend their title during the 2026–27 NBA season.

Spinning Into Focus

MSG Sports, meanwhile, said Thursday it intends to complete the planned separation of its Knicks and Rangers business by the end of October.

That spin-off, first discussed publicly in February, is designed in part to provide investors greater clarity and upside into the respective businesses of each team. For the Knicks in particular, the current MSG Sports corporate structure could be seen as inhibiting the team’s value. The entire market capitalization of MSG Sports currently sits at about $10 billion. This week’s record-setting $12.5 billion sale of the Lakers to Bob Iger and Joshua Kushner, however, provides yet another look into what top NBA franchises can garner.

NHL franchises also continue to rise to unprecedented levels, burnished in part by that league’s still-rising economic prospects. As a result, it’s easy to see the potential combined value of the Knicks and Rangers on the open market standing at more than $15 billion.

MSG Sports, however, said the company and executive chairman and CEO James Dolan are not actively pursuing minority stake sales in either the Knicks or Rangers as a result of the forthcoming split, but they aren’t ruling them out either.

“We continue to be confident in the value of our teams,” Lesane said. “We’re as confident as ever in that respect, and there continue to be reported transactions in the marketplace that demonstrate the value and scarcity of those assets. We would never rule out the possibility of a minority stake sale, but we don’t have anything further to report at this time.”

DON’T MISS A BEAT

LOUD AND CLEAR

Crunch Time

Mar 26, 2026; Los Angeles, California, USA; Los Angeles Dodgers owner and chairman Mark Walter walks on the field after the game against the Arizona Diamondbacks at Dodger Stadium.

Kirby Lee-Imagn Images

“The expedited process screams liquidity crunch.”

—One source who shared with Front Office Sports their immediate reaction to Mark Walter’s quick sale of the Lakers.

Walter stunned the basketball world with his surprise agreement to sell the Lakers to a group led by Joshua Kushner and Bob Iger at a $12.5 billion valuation Wednesday. It’s been only 14 months since Walter agreed to buy the team and 10 months since the NBA’s board of governors approved it, a process that still has to take place for the deal with Kushner and Iger.

The transaction comes amid extenuating circumstances for Walter, whose insurance empire is reportedly under federal investigation over the treatment and disclosure of affiliated investments. Sources say the Lakers sale is likely tied to Walter’s troubles, with one legal industry source telling FOS the probe has focused in part on whether his insurance companies had sufficient reserve assets to support financing for his acquisition of the Lakers.

FIRST AT FOS

Jessica Pegula Confirms WTA Genetic Sex Testing Has Started

Aug 6, 2026; Toronto, Ontario, Canada; Jessica Pegula (USA) reacts after winning the first set against Kamilla Rakhimova (UZB) during third round play at Sobeys Stadium.

Dan Hamilton-Imagn Images

Jessica Pegula confirmed to Front Office Sports that genetic sex testing has started in the WTA Tour.

In an interview Wednesday, the women’s world No. 3 player said testing began at the Cincinnati Open this week. “So far, I’ve heard it’s been very easy, it’s been very simple, no complaints,” Pegula told FOS.

Pegula, who is also a member of the WTA Players’ Council, said the WTA has been discussing the policy change with players “over the past year,” receiving feedback and sending educational information about the testing process.

STATUS REPORT

Two Up, Two Down

Feb 25, 2026; Houston, Texas, USA; Sacramento Kings guard Russell Westbrook (18) looks towards the crowd before the start of the game against the Houston Rockets at Toyota Center.

Troy Taormina-Imagn Images

Russell Westbrook ⬇ The nine-time All-NBA guard announced his retirement Wednesday after 28 seasons, finishing with 209 career triple-doubles, the most in NBA history. Though he never won a championship, Westbrook was the 2017 MVP and averaged a triple-double for the entire season that year.

Gianni Infantino ⬆ Six Arab soccer federations, including 2030 World Cup cohost Morocco and Qatar, issued a statement Thursday expressing “full support” and “confidence” in the FIFA president. FIFA has set a Nov. 18 deadline for presidential challengers to come forward ahead of the March 2027 election.

Korea Football Association ⬇ South Korea’s soccer governing body has issued a public apology after a government report alleged it paid for sexual services for foreign referees on at least eight occasions between 2011 and 2012. The report, which was compiled in 2016 but only recently made public, found the KFA spent nearly $4,000 on the services and that employees filed false expense reports to cover up the payments.

Deshaun Watson ⬆ The Browns quarterback will start Saturday’s preseason opener against the Bears in Chicago, his first game back since tearing his right Achilles tendon in October 2024. Watson and rookie Shedeur Sanders are competing for the starting role, with Sanders slated to start the team’s second preseason game Aug. 22.