MSGS at a Glaring Discount so GO KNICKS GO!
June 5, 2026
GO KNICKS GO! Okay really, we’re Lakers fans in our heart, but as Madison Square Garden Sports (“MSGS”) shareholders . . . GO KNICKS GO!
For those who don’t know, the San Antonio Spurs are battling it out with the New York Knicks for the NBA championship, and after come from behind win on Wednesday night, New York leads the 7 game series 1-0.
The next game is today. The Knicks won their last championship in 1973, so the droughts been long and dry. Led by their floor general Jalen Brunson, the gritty Knicks have a real shot against Victor Wembanyama and friends.
The timing though couldn’t have been more fortuitous as the parent company, MSGS, has just filed a Form 10 a few weeks back to being exploring the spinoff. As you may remember from our last article, MSGS actually owns two professional sports franchises, the aforementioned New York Knicks in the NBA (basketball) and the New York Rangers in the NHL (hockey). It also owns a few minor league teams, but the real value of the company lies in the NBA and NHL franchises.
Given the recent selling prices of other comparable large market NBA and NHL teams, we conservatively projected the fair market value of MSGS at $11B, and we were too conservative on that. Let’s shoot our shot.