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Madison Square Garden Sports Corp. (MSG Sports) (NYSE: MSGS) is a professional sports company built around marquee franchises such as the New York Knicks of the NBA and the New York Rangers of the NHL, along with development league teams and the MSG Training Center in Greenburgh, New York. The MSGS news feed highlights how these teams and related assets are used in live events, partnerships and fan-focused initiatives.
News about MSG Sports often covers marketing partnerships that integrate brands into the Knicks and Rangers game experience at Madison Square Garden. Recent announcements include Saie being named an Official Partner of the New York Knicks with in-arena LED signage and GardenVision features, Polymarket becoming the Official Prediction Market Partner of the New York Rangers with activations during Rangers games, and Insomnia Cookies being named the Official Cookie of the New York Knicks with a dedicated concession stand on the main concourse.
Investors and fans can also follow corporate developments such as multi-year partnerships with companies like PwC, which has been named The Official Business Consulting Partner of the Arena at Madison Square Garden, the Knicks and the Rangers, and Pellera Technologies’ role as Presenting Partner of the Rangers Centennial Exhibit. In addition, the news flow includes team-focused milestones like the Rangers’ Centennial season theme nights and initiatives celebrating 100 years of franchise history.
Financial updates are another key component of MSGS news. The company issues earnings releases, including quarterly results that discuss revenues, operating income (loss), adjusted operating income (loss), league distributions, local media rights fees and key operating highlights for the Knicks and Rangers seasons. For a consolidated view of these announcements, the MSGS news page provides a single stream of press releases and related disclosures.
Madison Square Garden Sports Corp. (NYSE: MSGS) has appointed Chris Overholt as Senior Vice President of Global Partnerships, effective March 27, 2023. Overholt, who has over 30 years of experience in sports, media, and entertainment, will manage global partnership sales for both MSG Sports and Madison Square Garden Entertainment. His role involves developing strategies for revenue growth and enhancing partner relationships. Previously, Overholt served as CEO of Overactive Media and the Canadian Olympic Committee. His extensive background includes various leadership roles in professional sports leagues, which is expected to benefit MSG Sports in exploring new opportunities worldwide.
Madison Square Garden Sports Corp. (NYSE: MSGS) reported fiscal Q2 2023 revenues of $353.7 million, a 22% increase from last year. Operating income rose to $51.5 million, up 43%.
Key revenue drivers included increased ticket sales, suite licenses, sponsorships, and food and beverage sales, attributed to more home games played by the Rangers. The company returned approximately $250 million to shareholders through a $7.00 per share dividend and a share repurchase program. Additionally, local media rights fees increased due to contractual rate hikes. Executive Chairman James L. Dolan expressed confidence in the company's ongoing momentum and long-term value generation.
Madison Square Garden Sports Corp. (NYSE: MSGS) will host a conference call to discuss its fiscal second quarter results for the period ending December 31, 2022, on February 7, 2023, at 10:00 a.m. ET. Prior to the market opening on the same day, the company will release its financial results. Interested participants can join the call by dialing 888-660-6386, using conference ID 6996895, or via webcast on the company's investor relations site. A replay of the call will be available after the event until February 14, 2023. MSGS operates notable professional sports franchises, including the New York Knicks and New York Rangers.
Madison Square Garden Sports Corp. (NYSE: MSGS) has entered a multi-year partnership with MSC Cruises, designating it as the Official Cruise Line Partner of the New York Knicks. This partnership includes brand promotion during Knicks games through LED signage and virtual promotions, as well as special in-game events like the T-Shirt Toss. Additionally, both organizations will collaborate on a sustainability initiative, contributing to ocean conservation linked to three-pointers made in the season. The partnership aims to enhance brand presence in international markets such as Italy, Germany, and Brazil while providing unique fan experiences.
Madison Square Garden Sports Corp. (NYSE: MSGS) and Madison Square Garden Entertainment Corp. (NYSE: MSGE) have announced a marketing partnership with Monster Energy. As the Official Energy Drink Partner of the New York Rangers, Monster Energy will have branding exposure at Madison Square Garden. A co-branded concession stand, the 'Monster Energy Bodega', will open inside the venue, supporting local bodegas recovering from the COVID-19 pandemic. Monster Energy will also engage fans with unique experiences at The Garden.
Madison Square Garden Sports Corp. (NYSE: MSGS) reported strong fiscal first-quarter results for the period ending September 30, 2022. Revenues surged by 28%, reaching $24.1 million, driven by increased suite license fees, preseason ticket revenues, and league distributions. The company announced a special dividend of $7.00 per share and a $75 million accelerated share repurchase program, returning about $250 million to shareholders. Operating loss slightly increased to $35.9 million amidst higher administrative costs, while adjusted operating loss improved to $27.3 million, reflecting solid revenue growth.
Brand Velocity Group (BVG) has launched a sports-focused vertical named Brand Velocity Group Sports (BVGS), led by sports pioneer Joseph Cohen as chairman. BVGS aims to invest in sports-adjacent companies and potentially professional sports teams, enhancing growth and financial flexibility for stakeholders. The BVGS team features experienced partners including Drew Sheinman and Eli Manning, along with a diverse advisory group with significant industry influence. BVGS will leverage BVG’s operational expertise and the Share the Gains initiative, which allocates 10% of carried interest earnings to employees, fostering a culture of shared success.
Madison Square Garden Sports Corp. (NYSE: MSGS) will release its fiscal first-quarter results for the period ending September 30, 2022, on October 27, 2022, before market opening. The company is returning to a bi-annual earnings call schedule, foregoing an earnings conference call this quarter. MSGS owns prominent sports assets including the New York Knicks and New York Rangers, and operates professional sports training facilities. The new earnings schedule allows for better mid-season and full-season financial updates.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced a multi-year marketing partnership with Piece of Cake Moving & Storage, making it the first Official Moving and Storage Partner of the New York Knicks. The partnership includes brand promotion during Knicks games, featuring LED signage and on-court contests. Piece of Cake, recognized as New York’s fastest-growing moving company, aims to enhance its brand visibility through various promotional activities at Madison Square Garden.
Madison Square Garden Sports Corp. (NYSE: MSGS) and HUB International Limited have entered a significant marketing partnership. HUB becomes an official partner of the New York Knicks and New York Rangers, alongside other events at Madison Square Garden. This partnership includes exclusive branding opportunities like the new 'HUB Loft' hospitality suite and extensive brand exposure through digital and in-arena signage. HUB's CMO, Ellina Shinnick, emphasized their growth aspirations through this collaboration.