Core Insights - The New York Knicks are entering the 2025-26 season with strong momentum after reaching the Eastern Conference Finals for the first time in 25 years, holding the fourth-best odds to win the 2026 NBA title [1] - Despite the team's success, Madison Square Garden Sports' stock price has only increased by 3.4% over the past year, significantly lagging behind the S&P 500's 15.1% increase [2] - The Knicks are valued at $9.85 billion, while the Rangers are valued at $3.65 billion, totaling $13.5 billion, which is at a 51% discount compared to MSGS's enterprise value of $6.6 billion [3] Company Performance - MSGS's COO expressed confidence in the value of their teams, suggesting that the current stock price does not reflect their true worth [4] - The Knicks experienced a 28% cut in local TV rights fees, yet still generated $620 million in revenue for the 2024-25 season, slightly surpassing the Lakers [5] - The Knicks and Rangers reported a combined loss of $22 million after taxes and interest for the 2024-25 fiscal year, despite the Knicks' playoff success [11] Market Valuation - The value of the Knicks rose by 81% and the Rangers more than doubled over the past five years, while average league values have increased even more rapidly [6] - There is a noted "Dolan discount" affecting MSGS's stock price, as sports teams often trade at significant discounts compared to private valuations [7] - Analysts suggest that MSGS shares are undervalued, with a potential price range between $417 and $425 based on control transactions, compared to the current share price of $224 [14] Investment Sentiment - Analysts covering MSGS are generally positive, with three hold ratings, four buys, and one strong buy, indicating a belief that the gap between private and public valuations will narrow [13] - The controlling shareholder, James Dolan, has indicated no immediate plans to sell the franchises, emphasizing their unique value [14]

Core Viewpoint - Manchester United is expected to report strong commercial and broadcasting revenue in its upcoming fourth-quarter results, attracting investor interest [1][2]. Financial Performance - Analysts estimate fourth-quarter revenue of $225.8 million, a 25.8% increase from $179.4 million in the same quarter last year [1]. - The company is projected to report a loss of 6 cents per share, an improvement from a loss of 20 cents per share in the previous year [2]. - Manchester United has beaten revenue estimates in two consecutive quarters and in eight of the last ten quarters [2]. Revenue Segments - Key revenue segments to watch include broadcasting, commercial, and match day revenue, all of which showed year-over-year growth in the third quarter [3]. - The English Premier League's new domestic television rights deal starting in the 2025-2026 season is expected to enhance broadcasting revenue [4]. Partnerships and Sponsorships - Manchester United has signed a multi-year partnership with Coca-Cola, becoming the official carbonated soft drink of the team in Europe, which could further boost revenue [4]. Team Performance - The team is currently in 14th place in the English Premier League, having finished 15th last season, which has impacted its matchday revenue [5][6]. - Despite recent poor performance, the team previously finished third in the 2022-2023 season, qualifying for the Champions League [5]. Investor Interest - There has been increased investor attention on Manchester United, potentially due to the rising valuations of professional sports teams [7]. - The team's valuation is estimated at $6.6 billion, with a public enterprise value of $3.6 billion, suggesting shares may be undervalued [8]. Stock Performance - Manchester United's stock trades at $16.05, within a 52-week range of $12.05 to $19.65, and has seen a year-to-date decline of 7.5% in 2025 [8].