Madison Square Garden Sports Corp. reports developments tied to its professional sports portfolio, including the New York Knicks of the NBA and the New York Rangers of the NHL. The company also owns development league teams, the Westchester Knicks and Hartford Wolf Pack, and operates the MSG Training Center.
Recurring news themes include fiscal results shaped by games played at Madison Square Garden Arena, ticketing, suites, sponsorships, food, beverage and merchandise sales, league distributions and media rights fees. Company updates also cover official team and arena partnerships, changes in finance leadership, capital-structure matters and governance developments related to the publicly traded sports business.
Madison Square Garden Sports Corp. (NYSE: MSGS) has appointed Greg Kim as the new Head of CLG, effective immediately. Kim, an established figure in the esports industry, will oversee all business operations and work closely with key staff to enhance CLG's performance and fan engagement. He previously served as Director of Esports for Evil Geniuses and has a strong background in gaming strategy and data management. This leadership change is seen as a positive step toward advancing CLG's legacy and market position in the competitive esports arena.
The New York Rangers have partnered with Esports Entertainment Group Inc. (EEG) to serve as their Official esports tournament provider starting July 1. This collaboration will feature three Rangers-themed esports tournaments managed by EEG under its Esports Gaming League brand. EEG will produce promotional videos for these tournaments, which will offer prizes including Rangers merchandise. The deal aims to engage audiences interested in both hockey and gaming, signaling a strategic expansion into the esports market.
The New York Knicks announced that Game 5 of their playoff series against the Atlanta Hawks, scheduled for June 2, has sold out, following successful sellouts for earlier games. Attendance indicates a strong return of fans, with over 90% being fully vaccinated. With no social distancing or mask requirements in vaccinated sections, the team's policy supports vaccination efforts and aims to enhance game day experiences. The Knicks' first-round series is currently tied at one game each, escalating excitement and engagement among fans.
The New York Knicks reported the sale of all tickets for their first two playoff games against the Atlanta Hawks, set at a 15,000 capacity under Covid-19 guidelines. Nearly 90% of attendees are expected to be fully vaccinated, making these events the largest indoor gatherings in New York State since the pandemic began. Tickets went on sale on May 18 for Season Ticket Members and were sold out by May 20. The playoff series begins on May 23, with safety measures in place for vaccinated and unvaccinated attendees.
Madison Square Garden Sports Corp. (MSGS) reported $183.0 million in revenue for Q3 FY2021, a 32% decline compared to $267.6 million in Q3 FY2020, largely due to COVID-19 capacity restrictions. Operating income fell to $8.1 million, a decrease of $2.5 million year-over-year. Adjusted operating income saw a rise of 8% to $30.0 million. The company has $289.1 million in liquidity but carries a total debt of $410 million. Fan attendance is expected to increase to 30% from May 19, 2021, and opportunities in mobile sports gaming in New York could enhance engagement.
Madison Square Garden Sports Corp. (NYSE: MSGS) will release its fiscal third quarter results for the period ended March 31, 2021, on May 5, 2021, prior to market opening. The Company will not conduct an earnings conference call. MSGS has announced it will hold two annual earnings calls, focusing on the second and fourth fiscal quarters.
MSG Sports is recognized for its prominent sports assets, including the New York Knicks and New York Rangers, alongside development league teams and esports ventures.
The New York Knicks and Squarespace announced the winners of the fourth annual “Make It Awards,” awarding four businesses with $30,000 grants, a one-year Squarespace subscription, and mentorship. The winners include It’s From The Sole, a sneaker donation nonprofit; First Tech Fund, supporting underprivileged NYC students with tech access; IV Comfort Solutions, improving pediatric healthcare through innovative IV bag covers; and Popcorn for the People, creating employment for adults with Autism. This year saw a record increase in applications by over 100% since 2017.
CLG, a leading North American esports organization, has partnered with Samsung Electronics America as the Official Computer Memory Hardware Devices Partner for its teams. This collaboration includes a digital content series and promotional integration across CLG's social media platforms. Samsung will also support CLG's Amateur Competition Platform, the Samsung Open Tournament Series, starting April 24, with events alternating between League of Legends and other fan-voted games. Additionally, Samsung's NVMe memory products will be utilized at the CLG Performance Center.
Madison Square Garden Sports and Madison Square Garden Entertainment announced a multi-year marketing partnership with The Clorox Company. Clorox will serve as the Official Cleaning & Disinfection Products Partner for the Knicks, Rangers, and Madison Square Garden Arena, providing products like electrostatic sprayers. This partnership includes significant brand integration at games and community support initiatives, including the Knicks’ Sweetwater Clifton ‘City Spirit’ Award.
CLG, a leading North American esports organization, has partnered with Bud Light, naming it an Official Partner. This partnership introduces the "Bud Light Streaming Studio" at CLG's Performance Center in Los Angeles, aimed at enhancing livestream content. Bud Light will sponsor virtual viewing parties for CLG's League of Legends matches and promote its ecommerce services. Additionally, a new Twitter feature, "Bud Light Cooldown," will provide match breakdowns, and CLG players will appear on Bud Light's Twitch channel.