MSGS on NYSE

Madison Square Garden Sports Corp.

Madison Square Garden Sports Corp. is a Nevada corporation with our principal executive offices at Two Pennsylvania Plaza, New York, NY 10121.1

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Last updated Oct 19, 2026.

Overview

$1.2BRevenue, fiscal 20262
$7.8MNet income, fiscal 20262

Compare with Rush Street Interactive, Inc., Madison Square Garden Entertainment Corp. or Six Flags, or pick any stock.

  • TickerMSGS on NYSE1
  • IndustryServices-Miscellaneous Amusement & Recreation1
  • HeadquartersNew York, New York1
  • Incorporated inNV3
  • Business addressTwo Pennsylvania Plaza, New York, Ny 101213
  • Filer categoryLarge accelerated filer3

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Madison Square Garden Sports Corp. is a Nevada corporation with our principal executive offices at Two Pennsylvania Plaza, New York, NY 10121. Unless the context otherwise requires, all references to “we,” “us,” “our,” “MSG Sports” or the “Company” refer collectively to Madison Square Garden Sports Corp., a holding company, and its direct and indirect subsidiaries. We conduct substantially all of our business activities discussed in this Annual Report on Form 10-K through MSG Sports, LLC and its direct and indirect subsidiaries.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

2.5%Operating margin2
0.7%Net margin2
11.0%Revenue growth, 20262
$61.3MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Event-Related brought in 47% of the revenue Madison Square Garden Sports Corp. broke down this way in fiscal 2026.

  1. Event-Related$536.5M247%up 16% from 2025
  2. Media Rights$295.7M226%up 4% from 2025
  3. Sponsorship, Signage And Suite Licenses$255.3M222%up 11% from 2025
  4. League Distribution$66.2M26%up 9% from 2025
Products and services by year
Products and services202420252026
Event-Related$458.2M$462.5M$536.5M
Media Rights$297.8M$285.6M$295.7M
Sponsorship, Signage And Suite Licenses$210.7M$230.2M$255.3M
League Distribution$60.4M$60.9M$66.2M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Selling, general and admin25¢$286.0M
  • Other costs74¢$849.8M
  • Income tax1¢$10.2M
  • Profit1¢$7.8M

Out of $1.2B in revenue.2

Where each dollar of operating cash went, fiscal 2026

  • Capital spending2¢$1.4M
  • Dividends paid1¢$472.0K
  • Kept or used elsewhere97¢$60.8M

Out of $62.7M of cash from operations.2

Financial statements

Revenue567892$1.2B in 2026+58% since 2019
0$500.0M$1.0B$1.5B2019: $729.4M$729.4M20192020: $603.3M$603.3M2020−17%2021: $415.7M$415.7M2021−31%2022: $821.4M$821.4M2022+98%2023: $887.4M$887.4M2023+8%2024: $1.0B$1.0B2024+16%2025: $1.0B$1.0B2025+1%2026: $1.2B$1.2B2026+11%
Operating income567892$28.9M in 2026
-$100.0M0$100.0M$200.0M2019: -$58.2M-$58.2M20192020: -$93.9M-$93.9M2020+61%2021: -$78.4M-$78.4M2021−16%2022: $86.1M$86.1M20222023: $85.2M$85.2M2023−1%2024: $146.0M$146.0M2024+71%2025: $14.8M$14.8M2025−90%2026: $28.9M$28.9M2026+95%
Net income567892$7.8M in 2026−32% since 2019
-$200.0M-$100.0M0$100.0M2019: $11.4M$11.4M20192020: -$182.4M-$182.4M20202021: -$14.0M-$14.0M2021−92%2022: $51.1M$51.1M20222023: $47.8M$47.8M2023−7%2024: $58.8M$58.8M2024+23%2025: -$22.4M-$22.4M20252026: $7.8M$7.8M2026

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2026-06-302025-06-302024-06-30
Revenues$1.2B$1.0B$1.0B
Selling, general and administrative expenses$286.0M$266.1M$261.4M
Depreciation and amortization$3.2M$3.2M$3.2M
Restructuring charges$2.1M$0$0
Operating income$28.9M$14.8M$146.0M
Interest income$2.9M$4.0M$2.8M
Interest expense-$21.1M-$21.7M-$27.6M
Miscellaneous income (expense), net$7.3M-$14.5M-$15.6M
Other income (expense)-$10.9M-$32.1M-$40.4M
Income (loss) before income taxes$18.0M-$17.3M$105.7M
Income tax expense-$10.2M-$5.2M-$46.9M
Net income (loss)$7.8M-$22.4M$58.8M
Basic earnings (loss) per common share attributable to Madison Square Garden Sports Corp.s stockholders (in USD per share)$0.32-$0.93$2.45
Diluted earnings (loss) per common share attributable to Madison Square Garden Sports Corp.s stockholders (in USD per share)$0.32-$0.93$2.44
Basic (in shares)24.2M shares24.1M shares24.0M shares
Diluted (in shares)24.3M shares24.1M shares24.1M shares
Direct operating expenses$833.7M$755.1M$616.5M

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Leadership

Who has led Madison Square Garden Sports Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. David Justin O'Connor2015–2017
  2. Kristin A. Dolan2017–2019
  3. Andrew Lustgarten2021–2022

Chair

  1. Kristin A. Dolan2015–2020

President

  1. David Justin O'Connor2015–2017
  2. Andrew Lustgarten2017–2022
  3. David G. Hopkinson2022–2024
  4. Quentin F. Dolan2026–now

Chief financial officer

  1. Donna Coleman2015–2018
  2. Victoria Mink2019–2026
  3. Paul M. Dicicco2026–now

Chief operating officer

  1. David G. Hopkinson2022–2024
  2. Jamaal T. Lesane2024–2026
  3. Quentin F. Dolan2026–now
20202025
Board members and other officers (27)

Former names

  • Madison Square Garden CoApr 23, 2015 to Apr 6, 20203
  • MSG SPINCO, INC.Mar 27, 2015 to Sep 29, 20153

Timeline

  1. Aug 23, 2021New chief executive Andrew Lustgarten becomes CEO15
  2. Dec 15, 2017New chief executive Kristin A. Dolan becomes CEO16
  3. Sep 15, 2015New chief executive David Justin O'Connor becomes CEO17

Filings

355 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 224 insider forms, 22 large holders, 41 other. The latest 20:

  1. Oct 9, 20268-K/A EDGAR
  2. Oct 9, 20264 EDGAR
  3. Sep 30, 20268-K EDGAR
  4. Sep 22, 20268-K EDGAR
  5. Sep 17, 20264 EDGAR
  6. Sep 17, 20264 EDGAR
  7. Sep 17, 20264 EDGAR
  8. Sep 17, 20264 EDGAR
  9. Sep 17, 20264 EDGAR
  10. Sep 17, 20264 EDGAR
  11. Sep 16, 2026144 EDGAR
  12. Aug 28, 20264 EDGAR
  13. Aug 28, 20264 EDGAR
  14. Aug 28, 20264 EDGAR
  15. Aug 28, 20264 EDGAR
  16. Aug 28, 20264 EDGAR
  17. Aug 28, 20264 EDGAR
  18. Aug 14, 2026SCHEDULE 13G EDGAR
  19. Aug 14, 2026SCHEDULE 13D/A EDGAR
  20. Aug 13, 202610-K EDGAR

The 355 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

17 open-market trades by officers, directors and large owners since October 2021: 2 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 16, 2026Warner BryanSVP, Head of LegalSale628$393.77$247.3KForm 4
Feb 20, 2026DOLAN CHARLES PDirectorSale5,659$325.26$1.8MForm 4
Mar 20, 2025DOLAN JAMES LAWRENCEExecutive Chairman / CEOSale15,544$196.75$3.1MForm 4
Mar 11, 2025Charles F. Dolan 2009 Revocable TrustSale5,097$188.17$959.1KForm 4
Mar 10, 2025Charles F. Dolan 2009 Revocable TrustSale31,825$189.92$6.0MForm 4
Aug 29, 2024Shvartsman AlexanderSVP, Controller & PAOSale720$210.00$151.2KForm 4
Aug 26, 2024DOLAN JAMES LAWRENCEExecutive Chairman / CEOSale629$209.30$131.7KForm 4
Mar 6, 2024DOLAN JAMES LAWRENCEExecutive Chairman / CEOSale18,000$185.88$3.3MForm 4
Feb 28, 2024DOLAN JAMES LAWRENCEExecutive Chairman / CEOSale19,003$187.81$3.6MForm 4
Feb 27, 2024DOLAN JAMES LAWRENCEExecutive Chairman / CEOSale20,000$188.27$3.8MForm 4
Feb 26, 2024DOLAN JAMES LAWRENCEExecutive Chairman / CEOSale8,236$190.25$1.6MForm 4
Feb 8, 2024Hopkinson David G.President & COOSale937$192.22$180.1KForm 4
May 11, 2023Hopkinson David G.President & COOSale414$192.42$79.7KForm 4
Mar 10, 2023Hopkinson David G.President & COOSale344$188.82$65.0KForm 4
Aug 2, 2022Dolan Leinauer Corby10% ownerSale58$153.95$8.9KForm 4
Mar 4, 2022Lustgarten AndrewDirectorBuy6,000$166.00$996.0KForm 4
Nov 29, 2021DirectorBuy102$175.30$17.9KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.2,098,909$843.4M0.0%+86,981
Silver Lake Group, L.L.C.1,899,962$763.5M16.7%No change
Vanguard Portfolio Management LLC955,895$384.1M0.0%+22,422
Vanguard Capital Management LLC798,566$320.9M0.0%+6,618
Ariel Investments, LLC658,551$264.6M2.6%−58,790
Gates Foundation Trust592,406$238.1M0.7%No change
Gamco Investors, Inc. Et Al589,128$236.7M2.1%+1,476
State Street Corp585,949$235.5M0.0%+21,043
Avantyr Capital Partners, LP467,014$187.7M6.9%New
Gabelli Funds LLC391,228$157.2M1.0%+366
Geode Capital Management, LLC380,213$152.8M0.0%+69,952
Clearbridge Investments, LLC372,957$149.9M0.1%−80,628
Samlyn Capital, LLC343,183$137.9M2.3%+125,329
Morgan Stanley328,764$132.1M0.0%+21,765
Balyasny Asset Management L.P.306,214$123.0M0.2%+212,397
Reinhart Partners, Llc.223,173$89.7M2.0%−1,796
UBS Group AG216,894$87.2M0.0%+140,298
Renaissance Technologies LLC210,780$84.7M0.1%+38,780
Citadel Advisors LLC208,144$83.6M0.0%+175,142
Victory Capital Management Inc178,230$71.6M0.0%−79,528
Invesco Ltd.173,740$69.8M0.0%+18,548
Norges Bank171,392$68.9M0.0%New
Systematic Financial Management LP152,155$61.1M1.2%−2,346
Bamco Inc /ny/150,116$60.3M0.1%−14,899
Southpoint Capital Advisors LP140,000$56.3M1.3%−15,000

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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