Madison Square Garden Sports Corp. Reports Fiscal 2026 First Quarter Results
NEW YORK, N.Y., October 31, 2025 – Madison Square Garden Sports Corp. (NYSE: MSGS) today reported financial results for the fiscal first quarter ended September 30, 2025.
This month, the New York Knicks (āKnicksā) and New York Rangers (āRangersā) began their 2025-26 regular seasons at the Madison Square Garden Arena (āThe Gardenā). Recent Company operating highlights include:
- The combined average season ticket renewal rate for the Knicks and Rangers is approximately 94% for the 2025-26 seasons;
- The Company announced a new multi-year marketing partnership with GAME 7 that includes naming the multi-platform sports and entertainment brand as the first-ever jersey patch partner of the Rangers;
- The suites business continues to benefit from strong renewals and new sales activity, including for several recently renovated Lexus-level suites at The Garden; and
- The Rangers began a year-long campaign to celebrate the teamās 100th anniversary season, with a number of special offerings and initiatives planned across the season, including a special Centennial jersey that launched in September.
For the fiscal 2026 first quarter, the Company generated revenues of $39.5 million, a decrease of $13.9 million, or 26%, as compared to the prior year period. In addition, the Company reported an operating loss of $27.4 million, an increase of $19.2 million, and an adjusted operating loss of $20.8 million, an increase of $18.5 million, both as compared to the prior year period.(1)
Madison Square Garden Sports Corp. Executive Chairman and CEO James L. Dolan said, āWith the new seasons underway, we are seeing strong ongoing demand for the Knicks and Rangers to start the fiscal year. We remain confident in the value of owning these two marquee professional sports franchises and our ability to generate long-term shareholder value.ā