Financial Data and Key Metrics Changes - For Q2 fiscal 2026, MSG Sports generated revenues of approximately $403 million, an increase from $357.8 million in the prior year period, reflecting a year-over-year growth of about 12.3% [4][11] - Adjusted Operating Income (AOI) for the quarter was approximately $30 million, up from $20.6 million, marking an increase of $9.4 million year-over-year [4][12] - Event-related revenues increased by 20% year-over-year to $167.2 million, while suites and sponsorship revenues rose by 24% to $98.5 million [12] Business Line Data and Key Metrics Changes - Per-game revenues across all in-game categories, including ticketing, suites, sponsorship, and food, beverage, and merchandise, saw increases compared to Q2 fiscal 2025 [4] - The Knicks' and Rangers' combined season ticket renewal rate was approximately 94%, indicating strong fan engagement [5] - Merchandise sales during the quarter reached some of the highest levels in each team's history, driven by new product launches and partnerships [6] Market Data and Key Metrics Changes - National and local media rights fees totaled $122.3 million, a decrease of 4% year-over-year, primarily due to amended local media rights agreements with MSG Networks [12] - The company is benefiting from higher national media rights fees due to the NBA's new national media deals, which began this season [8] Company Strategy and Development Direction - The company remains focused on driving long-term value for shareholders through strategic investments in its teams and optimizing pricing and sales mix [4] - MSG Sports is enhancing its marketing partnerships, having signed new multi-year agreements with brands like Game 7, PwC, and Polymarket, while renewing contracts with Anheuser-Busch and Infosys [7][38] - The company is also investing in premium hospitality, with strong sales and renewals for suites at The Garden, supported by recent renovations [7][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's strong fundamentals and robust consumer and corporate demand, despite the Rangers' performance on the ice [10][32] - The company is monitoring playoff standings closely, as postseason participation can significantly impact financial performance through additional home games and ticket pricing strategies [32] - Management is optimistic about the upcoming Olympic Winter Games, where several Rangers players will compete, and the Knicks' continued momentum from last season's playoff run [9] Other Important Information - The company refinanced its senior secured revolving credit facilities, improving borrowing rates and extending maturity to November 2030 [14] - As of the end of the quarter, MSG Sports had a cash balance of approximately $81 million and a debt balance of $291 million [14] Q&A Session Summary Question: Update on potential capital returns given current cash and debt balances - Management stated that capital allocation decisions consider various factors, maintaining liquidity for operations and investments, with no immediate changes to outstanding borrowings [16][17] Question: Is a minority interest sale a potential option? - Management confirmed no current news on a minority interest sale but acknowledged the value of their teams and the potential for such a sale in the future [20] Question: Impact of upcoming changes to tax deductibility of compensation - Management is assessing the impact of changes in tax regulations, effective for the year ending June 30, 2028, but has no further updates at this time [22] Question: Outlook on the evolving RSN and local media rights landscape - Management believes in the value of local media coverage and is confident in their partnership with MSG Networks, which runs through the end of the 2028-2029 seasons [26][27] Question: Financial impact of the Rangers' performance and potential playoff misses - Management noted strong business performance despite the Rangers' on-ice results, with growth in all in-game revenue categories and a focus on maximizing the current season's success [30][32] Question: Opportunities for sponsorship growth and suite upgrades - Management highlighted positive momentum in marketing partnerships and premium hospitality, with strong demand and new deals contributing to growth [36][38]

WTA Tour Structure & Strategy - WTA Tour emphasizes parity and depth of excellence, with multiple champions throughout the season, contrasting with the men's tour [4][5] - WTA aims to facilitate rivalries by providing opportunities for top players to compete in top events weekly, offering high prize money and ranking points [6][7] - WTA believes women's sports, particularly tennis, have been undervalued and seeks partners willing to invest in its value and fan demand [9] - WTA aims for equal prize money at top-level events by reinvesting revenue and monetization back into tournaments [17] Media Rights & Revenue - WTA renewed its media rights deal with Tennis Channel, prioritizing investment, marketing resources, storytelling, and content alignment over broader reach [8][9][10] - WTA views Tennis Channel as part of a global strategy, including linear, digital, and OTT deals worldwide, aiming to reset and increase rights fees [11][12] - WTA acknowledges it is still undervalued and has a long way to go to reach exact equality with men in terms of revenue [14][15] - WTA is focused on acquiring and earning fees in media rights, sponsorship, and data [16] Player Support & Development - WTA has a maternity fund providing 12 months of pay for eligible athletes, with equal pay regardless of ranking, and two months of parental leave for non-childbearing parents [18][19][20][21] - WTA acknowledges the challenges of making a living as a professional tennis player but believes it has created an environment for players to compete and progress [29][30][31][32] Partnerships & Social Impact - WTA partnered with Saudi Arabia's Public Investment Fund (PIF), viewing sport as a vehicle for progress and change, with players aiming to make an impact beyond tennis [18][22][23] - WTA's presence in Saudi Arabia includes community development, tennis training for PE teachers, coach development, and school clinics, reaching approximately 40,000 people [24][25][26] Potential Merger & Integrity - WTA is pursuing a merger of commercial assets with the ATP, believing combined sponsorship, media, and data rights sales would benefit the sport [36][37][41] - WTA is optimistic about the potential merger with ATP, aiming to sell tennis as a whole rather than forcing buyers to choose between men's and women's tours [41][42] - WTA has an integrity regime, including the International Tennis Integrity Association (ITIA), to monitor, investigate, and enforce rules related to the integrity of the sport [44][45][46] - WTA is addressing social media abuse targeted at players, investing in platforms to monitor and take down abusive content [46][47]

more. All right, if that doesn't get you fired up, I don't know what the problem is. The NBA is back and for the first time in more than 20 years, it is back on NBC.A new season tipping off tonight on the network in Peacock. Couple of great games, by the way. CNBC sports reporter Alex Sherman is here with more on how the league's playbook is changing.I mean, the players are different. Obviously, I'm ready for Michael Magic and Larry to run out after hearing that music. >> Yeah, right.The the one thing that ...

Welcome back. The recent sale of the LA Lakers for a record $10 billion valuation only underscores the still strong demand for sports assets. My next guest just launched their own fund to invest in what they see as undervalued areas of sports.Rashan Williams is Harbinger Sports Partners founder and CIO. Steve Cannon is Harbinger Sports co-founder and CEO. Steve also the former vice chairman and CEO of AM Sports and Entertainment.It's great to have you guys. Rashan, it's funny. Um, when you guys say you're l ...