Madison Square Garden Sports Corp. (MSGS) reported fourth-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top line surpassed the estimate for the fourth straight quarter. Also, both top and bottom lines increased on a year-over-year basis. MSGS gained from the strong demand for the Knicks and the Rangers, as both teams had impressive regular seasons that resulted in playoff appearances. Earnings & Revenue Discussion Madison Square Garden Sports reported adju ...

Media Rights and Agreements - The Knicks and Rangers have media rights agreements with MSG Networks, each with approximately 11 years remaining[18] - Media rights revenues for the Knicks and Rangers totaled $175.3 million in fiscal year 2024, with stated rights fees for fiscal year 2025 totaling up to approximately $186.7 million[42] - The Knicks and Rangers entered into 20-year local media rights agreements with MSG Networks in October 2015[41] - Diamond Sports Group filed for Chapter 11 bankruptcy in March 2023, leading to the rejection or expiration of certain media rights agreements[41] Community and Youth Programs - Over 480,000 tri-state area youth participated in the Jr. Knicks and Jr. Rangers programs in fiscal year 2024[19] - The Garden of Dreams Foundation has donated nearly $81 million in grants and donations since 2006, impacting over 440,000 young people[20] Diversity and Inclusion - Employee Resource Group (ERG) involvement increased from approximately 1,100 members in fiscal year 2023 to 1,700 members in fiscal year 2024, a 54.8% increase[26] - Approximately 500 employees completed Diversity and Inclusion (D&I) trainings from January 2024 to June 2024[26] - The company awarded a $60,000 scholarship to a New York City high school student during the 3rd Annual Historically Black Colleges and Universities Night[27] Employee and Union Representation - As of June 30, 2024, the company had approximately 533 full-time and 450 part-time employees[28] - Approximately 11.2% of employees were represented by unions as of June 30, 2024[28] Collective Bargaining Agreements (CBA) - The current NBA CBA expires after the 2029-30 season, with a possible termination option after the 2028-29 season[28] - The current NHL CBA expires after the 2025-26 season, with a possible one-year extension[28] - The NHL CBA expires on September 15, 2026, with a possible one-year extension, while the NBA CBA expires after the 2029-30 season, with a potential termination option after the 2028-29 season[46][47] Financial Performance and Revenue - The company's financial results are heavily dependent on the popularity and competitive success of the Knicks and Rangers, which drive ticket sales, sponsorships, and media rights revenue[34] - The Knicks and Rangers qualified for the post-season during their respective 2023-24 seasons, which can boost revenue through increased games and fan engagement[34] - The company recorded approximately $76.1 million in estimated revenue sharing expenses, net of escrow, for fiscal year 2024[38] - The company incurred an operating loss of approximately $78 million in fiscal year 2021[44] - The company's revenues and expenses are seasonal, with the majority concentrated in the second and third quarters due to the NBA and NHL playing seasons[48] Player Salaries and Expenses - NBA and NHL player salaries have increased significantly and are expected to continue rising, impacting the company's expenses[36] - The Knicks are projected to be a luxury tax payer for the 2024-25 season, potentially impacting financial results[36] - The company may incur significant charges related to player injuries, trades, and contract terminations, adding volatility to financial results[36] Competition and Market Risks - The company faces intense competition in the New York City metropolitan area from other sports teams and entertainment options[33] - The company's business is sensitive to discretionary spending, which could decline due to economic downturns, recessions, or inflation[42] League Control and Media Rights - The NBA and NHL's control over media rights, league rules, and expansion decisions could materially affect the company's business and revenue[37][38] Insurance and Risk Management - The company maintains insurance policies to mitigate risks associated with player injuries and illnesses[39] Talent Acquisition and Retention - The company's ability to attract and retain talented players is crucial for maintaining team competitiveness and financial performance[36] Credit Facilities and Interest Expense - The Knicks Revolving Credit Facility has an outstanding balance of $275 million as of June 30, 2024, while the Rangers Revolving Credit Facility remains undrawn[42] - The NHL Advance Agreement has an outstanding balance of $30 million as of June 30, 2024[42] - Interest expense increased from approximately $22.9 million in fiscal year 2023 to approximately $27.6 million in fiscal year 2024[44] - The company has $275 million in borrowings under credit facilities, and a 100 basis point increase in interest rates would increase annual interest expense by approximately $2.8 million[131] Real Estate and Zoning - The Knicks and Rangers play their home games at The Garden under Arena License Agreements expiring in 2055[44] - The Garden's zoning special permit was renewed in September 2023 for five years[44] - The Garden's real estate tax exemption for fiscal year 2024 is $42.2 million, which is subject to potential repeal or amendment[45] Strategic Transactions and Acquisitions - The company may pursue acquisitions or strategic transactions, which could involve significant capital, indebtedness, and integration risks[49] Data Privacy and Cybersecurity - The company is subject to data privacy and protection laws, including the CCPA and CPRA, which went into effect on January 1, 2023, and may require additional compliance investment[50] - The company faces significant cybersecurity risks, including potential breaches, theft, or misappropriation of sensitive information, which could lead to financial losses and reputational damage[51] - In November 2016, a payment card issue affected cards used at merchandise and food and beverage locations at several MSG Entertainment venues, including The Garden, which was promptly addressed with enhanced security measures[51] - The company relies on third-party software and systems for ticket sales, credit card processing, and other operations, which could be disrupted by factors such as network failures, natural disasters, or malicious actions[52] - Cloud computing services are critical to the company's operations, and any disruption or interference with these services could adversely impact the business[52] - The company has incurred and expects to continue incurring significant expenses to enhance security measures and address potential cybersecurity incidents[51] - The company may face legal or regulatory action, financial losses, and reputational harm due to unauthorized access or security breaches of its systems[51] - The company is subject to new regulations requiring timely disclosure of material cybersecurity incidents, which could lead to negative publicity and loss of customer confidence[52] - The company relies on third-party facilities and systems, and any interruption or unavailability of these services could have a material negative effect on its business[52] Governmental Regulations and Public Health - The company's business is subject to governmental regulations, including labor, immigration, and employment laws, which could change and impact operations[50] - The company's operations could be adversely affected by terrorist activity or the threat of such activity, which could reduce attendance at games[50] - The company's business was materially impacted by government actions during the COVID-19 pandemic, and could be impacted by future public health emergencies[50] Affiliated Entities and Agreements - The company relies on affiliated entities' performance under various agreements, including arena license agreements and services agreements, which could impact operations if breached[48] Financing and Market Volatility - The company may require financing for ongoing operations, but the availability of financing is highly uncertain due to market volatility and potential league approval requirements[45] Tax and Indemnity Obligations - The company has indemnity obligations to Sphere Entertainment under the Tax Disaffiliation Agreement, which could result in substantial liabilities if the Sphere Distribution is treated as a taxable transaction[56] - The company could face significant tax liability if the Sphere Distribution does not qualify for tax-free treatment, potentially resulting in substantial taxes for both the company and Sphere Entertainment stockholders[55] Corporate Governance and Control - The Dolan Family Group collectively owns approximately 70.9% of the total voting power of all outstanding common stock, including 3.0% of Class A Common Stock and all of Class B Common Stock[57] - The Dolan Family Group controls MSG Entertainment, Sphere Entertainment, and AMC Networks, and can prevent changes in control or corporate transactions without their consent[58] - The Dolan Family Group holds registration rights for approximately 5.1 million shares of Class A Common Stock, which could impact the stock price if sold[60] - The company is a "controlled company" under NYSE rules, allowing it to bypass certain governance requirements, such as having a majority independent board[58] - The company's common stock is subject to NBA and NHL transfer restrictions, and non-compliance could result in shares being redeemed at 85% of fair market value[60] - The company shares directors and executives with MSG Entertainment, Sphere Entertainment, and AMC Networks, potentially leading to conflicts of interest[60] - The company has renounced rights to certain business opportunities in favor of MSG Entertainment, Sphere Entertainment, and AMC Networks[62]

NEW YORK, Aug. 7, 2024 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE: MSGS) will host a conference call to discuss results for its fiscal fourth quarter and full-year ended June 30, 2024 on Tuesday, August 13, 2024 at 10:00 a.m. Eastern Time. The Company will issue a press release reporting its results prior to the market opening. To participate via telephone, please dial 888-660-6386 with the conference ID number 6996895 approximately 10 minutes prior to the call. The call will also be available ...

Company Overview - Madison Square Garden Sports Corp. (MSG Sports) is a leading professional sports company that includes assets such as the New York Knicks (NBA) and the New York Rangers (NHL), along with development league teams like the Westchester Knicks (NBAGL) and the Hartford Wolf Pack (AHL) [3] - MSG Sports operates a professional sports team performance center, the MSG Training Center, located in Greenburgh, NY [3] Leadership Announcement - Jamaal Lesane has been appointed as Chief Operating Officer of MSG Sports, having previously served as Executive Vice President and General Counsel since March 2022 [5][6] - Lesane has over 15 years of experience with MSG, having held various roles including Senior Vice President, Associate General Counsel, and team counsel for the New York Knicks and New York Rangers [6] Strategic Vision - In his new role, Lesane will work closely with executive leadership to enhance the company's portfolio and support its long-term growth, focusing on innovation and optimizing corporate performance across professional sports franchises [1][6] - Lesane expressed his commitment to building the legacies of MSG Sports, the New York Knicks, and the New York Rangers [2]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-36900 MADISON SQUARE GARDEN SPORTS CORP. (Exact name of registrant as specified in its ...

Exhibit 99.1 Results for the three and nine months ended March 31, 2024 and 2023 were as follows: | | Three Months Ended | | | | | | | Nine Months Ended | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | March 31, | | | Change | | | | March 31, | | Change | | | $ millions | 2024 | | 2023 | $ | % | | 2024 | 2023 | $ | | % | | Revenues | $ 430.0 | $ | 382.7 | $47.2 | 12% | $ | 799.9 | $ 760.5 | $39.4 | | 5% | | Operating income | $ 79.7 | $ | 81.8 | $ (2.0) | (2)% | $ | 93.7 ...

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.  TORONTO, May 01, 2024 (GLOBE NEWSWIRE) -- Xtract One Technologies Inc. (TSX:XTRA) (OTCQX:XTRAF) (FRA: 0PL) ("Xtract One" or the "Company") announces that, in connection with its previously announced public offering (the "Offering"), Eight Capital, as lead agent and sole bookrunner, and Echelon Wealth Partners Inc. (together with Eight C ...

NEW YORK, April 26, 2024 /PRNewswire/ -- Madison Square Garden Sports Corp. (NYSE: MSGS) will issue a press release on Thursday, May 2, 2024 before the market opens reporting results for its fiscal third quarter ended March 31, 2024.The Company generally hosts two earnings conference calls per year, one for its fiscal second quarter and one for its fiscal fourth quarter – which schedule allows for a mid-season update, followed by a full-season review. Accordingly, the Company will not hold an earnings confe ...

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. TORONTO, April 24, 2024 (GLOBE NEWSWIRE) -- Xtract One Technologies Inc. (TSX:XTRA) (OTCQX:XTRAF) (FRA: 0PL) ("Xtract One" or the "Company") announces that it has closed its previously announced public offering (the "Offering") conducted by Eight Capital, as lead agent and sole bookrunner, and Echelon Wealth Partners Inc. (together with ...

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. TORONTO, April 22, 2024 (GLOBE NEWSWIRE) -- Xtract One Technologies Inc. (TSX:XTRA) (OTCQX:XTRAF) (FRA: 0PL) ("Xtract One" or the "Company") is pleased to announce that it has increased the size of its previously announced public offering (the "Offering"). The Offering is being conducted by Eight Capital, as lead agent and sole bookrunne ...