Madison Square Garden Sports (MSGS) 10-Q 1 Nov 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	1-36900
Entity Registrant Name	MADISON SQUARE GARDEN SPORTS CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3373056
Entity Address, Address Line One	Two Penn Plaza
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10121
City Area Code	212
Local Phone Number	465-4111
Title of 12(b) Security	Class A Common Stock
Trading Symbol	MSGS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001636519
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		19,464,513
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,529,517

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2024	Jun. 30, 2024
Current Assets:
Cash and cash equivalents		$ 52,252	$ 89,136
Restricted cash	[1]	5,832	5,771
Prepaid expenses		84,260	30,956
Other current assets		22,116	25,043
Total current assets		235,780	216,942
Property and equipment, net of accumulated depreciation and amortization of $51,199 and $52,281 as of September 30, 2024 and June 30, 2024, respectively		28,282	28,541
Right-of-use lease assets		692,412	694,566
Indefinite-lived intangible assets		103,644	103,644
Goodwill		226,523	226,523
Investments		64,450	62,543
Other assets		22,206	13,533
Total assets		1,373,297	1,346,292
Current Liabilities:
Debt		30,000	30,000
Accrued liabilities:
Employee related costs		68,766	133,930
League-related accruals		98,215	120,876
Other accrued liabilities		11,064	21,613
Operating lease liabilities, current	[2]	49,799	50,267
Deferred revenue		306,839	148,678
Total current liabilities		574,675	521,982
Long-term debt		275,000	275,000
Operating lease liabilities, noncurrent	[2]	738,555	749,952
Defined benefit obligations		4,104	4,103
Other employee related costs		47,580	43,493
Deferred tax liabilities, net		9,792	16,925
Deferred revenue, noncurrent		1,120	1,147
Total liabilities		1,650,826	1,612,602
Commitments and contingencies (see Note 11)
Madison Square Garden Sports Corp. Stockholders’ Equity:
Preferred stock, par value $0.01, 15,000 shares authorized; none outstanding as of September 30, 2024 and June 30, 2024		0	0
Additional paid-in capital		8,353	19,079
Treasury stock, at cost, 983 and 1,025 shares as of September 30, 2024 and June 30, 2024, respectively		(162,504)	(169,547)
Accumulated deficit		(122,689)	(115,139)
Accumulated other comprehensive loss		(938)	(952)
Total equity		(277,529)	(266,310)
Total liabilities and equity		1,373,297	1,346,292
Class A Common Stock
Madison Square Garden Sports Corp. Stockholders’ Equity:
Common stock, value issued		204	204
Class B Common Stock
Madison Square Garden Sports Corp. Stockholders’ Equity:
Common stock, value issued		45	45
Nonrelated Party
Current Assets:
Accounts receivable, net		45,302	33,781
Current Liabilities:
Accounts payable		5,334	9,900
Related Party
Current Assets:
Accounts receivable, net		26,018	32,255
Current Liabilities:
Accounts payable		$ 4,658	$ 6,718
[1] Restricted cash as of September 30, 2024, June 30, 2024 and September 30, 2023 included cash deposited in an escrow account (see Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information). As of September 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances o f $43,220 and $705,233, r espectively, that are payable to MSG Entertainment. As of June 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances of $43,689 and $715,507, respectively, that are payable to MSG Entertainment.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Accounts receivable, allowance for credit loss	$ 0	$ 0
Accumulated depreciation and amortization	$ 51,199	$ 52,281
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	15,000	15,000
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	983	1,025
Class A Common Stock
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000	120,000
Common stock, shares outstanding (in shares)	19,465	19,423
Class B Common Stock
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000	30,000
Common stock, shares outstanding (in shares)	4,530	4,530

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues	[1]	$ 53,307	$ 43,046
Operating expenses:
Direct operating expenses	[2]	8,211	3,520
Selling, general and administrative expenses	[3]	52,587	53,556
Depreciation and amortization		782	794
Operating loss		(8,273)	(14,824)
Other income (expense):
Interest income		864	453
Interest expense		(6,055)	(6,929)
Miscellaneous expense, net		(1,126)	(12,665)
Nonoperating income (loss)		(6,317)	(19,141)
Loss before income taxes		(14,590)	(33,965)
Income tax benefit		7,048	15,144
Net loss		$ (7,542)	$ (18,821)
Basic loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders (in USD per share)		$ (0.31)	$ (0.79)
Diluted loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders (in USD per share)		$ (0.31)	$ (0.79)
Weighted-average number of common shares outstanding:
Basic (in shares)		24,049	23,971
Diluted (in shares)		24,049	23,971
[1] Includes revenues from related parties of $8,904 and $8,817 for the three months ended September 30, 2024 and 2023, respectively. Includes net charges from related parties of $2,295 and $2,616 for the three months ended September 30, 2024 and 2023, respectively. Includes net charges from related parties of $11,862 and $12,125 for the three months ended September 30, 2024 and 2023, respectively.

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Revenues	[1]	$ 53,307	$ 43,046
Direct operating expenses	[2]	8,211	3,520
Selling, general and administrative expenses	[3]	52,587	53,556
Related Party
Revenues	[4]	8,904	8,817
Direct operating expenses		2,295	2,616
Selling, general and administrative expenses		$ 11,862	$ 12,125
[1] Includes revenues from related parties of $8,904 and $8,817 for the three months ended September 30, 2024 and 2023, respectively. Includes net charges from related parties of $2,295 and $2,616 for the three months ended September 30, 2024 and 2023, respectively. Includes net charges from related parties of $11,862 and $12,125 for the three months ended September 30, 2024 and 2023, respectively. Primarily consist of local media rights recognized from the licensing of team-related programming under the media rights agreements covering the Knicks and the Rangers.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (7,542)	$ (18,821)
Amounts reclassified from accumulated other comprehensive loss:
Amortization of actuarial loss included in net periodic benefit cost	20	9
Other comprehensive income, before income taxes	20	9
Income tax expense related to items of other comprehensive income	(6)	(3)
Other comprehensive income, net of income taxes	14	6
Comprehensive loss	$ (7,528)	$ (18,815)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (7,542)	$ (18,821)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	782	794
Benefit from deferred income taxes	(7,140)	(15,170)
Share-based compensation expense	4,268	4,149
Unrealized loss on equity investments with readily determinable fair value, warrants, and forward contract	612	12,101
Other non-cash adjustments	1,673	571
Change in assets and liabilities:
Accounts receivable, net	(11,521)	5,330
Net related party receivables	6,237	(2,315)
Prepaid expenses and other assets	(59,309)	(54,275)
Investments	(2,046)	(1,481)
Accounts payable	(4,697)	(3,821)
Net related party payables	(2,064)	659
Accrued and other liabilities	(93,834)	(104,748)
Deferred revenue	158,134	132,328
Operating lease right-of-use assets and lease liabilities	(9,711)	(9,442)
Net cash used in operating activities	(26,158)	(54,141)
Cash flows from investing activities:
Capital expenditures	(359)	(391)
Purchases of investments	(804)	(1,338)
Net cash used in investing activities	(1,163)	(1,729)
Cash flows from financing activities:
Dividends paid	(440)	(537)
Taxes paid in lieu of shares issued for equity-based compensation	(9,062)	(6,633)
Proceeds from revolving credit facilities	0	75,000
Net cash (used in) provided by financing activities	(9,502)	67,830
Net (decrease) increase in cash, cash equivalents and restricted cash	(36,823)	11,960
Cash, cash equivalents and restricted cash at beginning of period	94,907	40,459
Cash, cash equivalents and restricted cash at end of period	58,084	52,419
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	$ 232	$ 402

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock Issued	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance at Jun. 30, 2023	$ (337,234)	$ 249	$ 16,846	$ (179,410)	$ (173,910)	$ (1,009)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(18,821)				(18,821)
Other comprehensive income	6					6
Comprehensive loss	(18,815)
Share-based compensation	4,149		4,149
Tax withholding associated with shares issued for equity-based compensation	(6,637)		(6,637)
Common stock issued under stock incentive plans	0		(6,805)	6,805
Dividends declared ($7.00 per share)	(6)				(6)
Ending balance at Sep. 30, 2023	(358,543)	249	7,553	(172,605)	(192,737)	(1,003)
Beginning balance at Jun. 30, 2024	(266,310)	249	19,079	(169,547)	(115,139)	(952)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,542)				(7,542)
Other comprehensive income	14					14
Comprehensive loss	(7,528)
Share-based compensation	4,268		4,268
Tax withholding associated with shares issued for equity-based compensation	(7,951)		(7,951)
Common stock issued under stock incentive plans	0		(7,043)	7,043
Dividends declared ($7.00 per share)	(8)				(8)
Ending balance at Sep. 30, 2024	$ (277,529)	$ 249	$ 8,353	$ (162,504)	$ (122,689)	$ (938)

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared (in USD per share)	$ 7	$ 7

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Madison Square Garden Sports Corp. (together with its subsidiaries, collectively, “we,” “us,” “our,” “MSG Sports,” or the “Company”) owns and operates a portfolio of assets featuring some of the most recognized teams in all of sports, including the New York Knickerbockers (“Knicks”) of the National Basketball Association (“NBA”) and the New York Rangers (“Rangers”) of the National Hockey League (“NHL”). Both the Knicks and the Rangers play their home games in Madison Square Garden Arena (“The Garden”). The Company’s other professional sports franchises include two development league teams — the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League. These professional sports franchises are collectively referred to herein as the “sports teams” or the “teams.” The Company also operates a professional sports team performance center — the Madison Square Garden Training Center in Greenburgh, NY. The Company operates and reports financial information in one segment. The Company’s decision to organize as one operating segment and report in one segment is based upon its internal organizational structure; the manner in which its operations are managed; and the criteria used by the Company’s Executive Chairman and Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), to evaluate segment performance. The Company’s CODM reviews total company operating results to assess overall performance and allocate resources. The Company was incorporated on March 4, 2015 as an indirect, wholly-owned subsidiary of MSG Networks Inc. (“MSG Networks”). All the outstanding common stock of the Company was distributed to MSG Networks stockholders (the “MSGS Distribution”) on September 30, 2015. On April 17, 2020, the Company distributed all of the outstanding common stock of Sphere Entertainment Co. (“Sphere Entertainment”) to its stockholders (the “Sphere Distribution”). On July 9, 2021, MSG Networks merged with a subsidiary of Sphere Entertainment and became a wholly-owned subsidiary of Sphere Entertainment. Accordingly, agreements between the Company and MSG Networks are now effectively agreements with Sphere Entertainment on a consolidated basis. Unless the context otherwise requires, all references to Madison Square Garden Entertainment Corp. (“MSG Entertainment”), Sphere Entertainment and MSG Networks refer to such entity, together with its direct and indirect subsidiaries. Basis of Presentation The accompanying unaudited consolidated interim financial statements (referred to as the “Financial Statements” herein) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”) for interim financial information, and should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 (“fiscal year 2024”). The Financial Statements presented in this Quarterly Report on Form 10-Q are unaudited; however, in the opinion of management, the Financial Statements reflect all adjustments, consisting solely of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. The results of operations for the periods presented are not necessarily indicative of the results that might be expected for future interim periods or for the full fiscal year. The dependence of MSG Sports on revenues from its NBA and NHL sports teams generally means it earns a disproportionate share of its revenues in the second and third quarters of the Company’s fiscal year, which is when the majority of the sports teams’ games are played.

Accounting Policies

Accounting Policies	3 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Principles of Consolidation The consolidated financial statements of the Company include the accounts of Madison Square Garden Sports Corp. and its subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of the accompanying Financial Statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of accounts receivable, other current assets, goodwill, intangible assets, other long-lived assets, fair value of investments, deferred tax valuation allowance, tax accruals, and other liabilities. In addition, estimates are used in revenue recognition, revenue sharing expense (net of escrow and excluding playoffs), luxury tax expense, income tax expense (benefit), performance and share-based compensation, depreciation and amortization, litigation matters and other matters. Management believes its use of estimates in the Financial Statements to be reasonable. Management evaluates its estimates on an ongoing basis using historical experience and other factors, including the general economic environment and actions it may take in the future. The Company adjusts such estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time and, as such, these estimates may ultimately differ from actual results. Changes in estimates resulting from weakness in the economic environment or other factors beyond the Company’s control could be material and would be reflected in the Company’s financial statements in future periods. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-01, Leases (Topic 842): Common Control Arrangements. This ASU amends certain provisions of Accounting Standards Codification (“ASC”) 842, Leases that apply to arrangements between related parties under common control. The Company adopted this standard as of the beginning of the fiscal year ending June 30, 2025 (“fiscal year 2025”) and the adoption did not have an impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. The ASU is effective for the Company’s Annual Report on Form 10-K for fiscal year 2025 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its segment disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU enhances annual disclosures related to the effective income tax rate reconciliation and income taxes paid. The ASU is effective for the Company’s Annual Report on Form 10-K for the fiscal year ending June 30, 2026 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its income tax disclosures.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Sep. 30, 2024
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Contracts with Customers All revenue recognized in the consolidated statements of operations is considered to be revenue from contracts with customers. For the three months ended September 30, 2024 and 2023, the Company did not have any impairment losses on receivables or contract assets arising from contracts with customers. Disaggregation of Revenue The following table disaggregates the Company’s revenues by type of goods or services in accordance with the disclosure requirements set forth in ASC Subtopic 280-10-50-38 to 40 and the disaggregation of revenue required disclosures in accordance with ASC Subtopic 606-10-50-5 for the three months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 2023 Event-related (a) $ 6,085 $ 5,821 Media rights (b) 7,353 7,219 Sponsorship, signage and suite licenses 5,188 5,314 League distributions and other 34,681 24,692 Total revenues from contracts with customers $ 53,307 $ 43,046 _________________ (a) Consists of (i) ticket sales and other ticket-related revenues, and (ii) food, beverage and merchandise sales at The Garden. (b) Consists of (i) local media rights fees, (ii) revenue from the distribution through league-wide national television contracts, and (iii) other local radio rights fees. Contract Balances The timing of revenue recognition, billings and cash collections results in billed receivables, contract assets and contract liabilities on the consolidated balance sheets. The following table provides information about contract balances from the Company’s contracts with customers as of September 30, 2024 and June 30, 2024: September 30, June 30, 2024 2024 Receivables from contracts with customers, net (a) $ 45,210 $ 19,930 Contract assets, current (b) 9,333 14,054 Deferred revenue, including non-current portion (c), (d) 307,959 149,825 _________________ (a) Receivables from contracts with customers, net, which are reported in Accounts receivable, net and Net related party receivables in the accompanying consolidated balance sheets, represent the Company’s unconditional rights to consideration under its contracts with customers. As of September 30, 2024 and June 30, 2024, the Company’s receivables reported above incl uded $235 and $0 , respectively, related to contracts with customers that are related parties. See Note 16 for further details on these related party arrangements. Receivables from contracts with customers, net, excludes amounts recorded in Accounts receivable, net, associated with amounts due from the NBA related to luxury tax payments. (b) Contract assets, current, which are reported as Other current assets in the accompanying consolidated balance sheets, primarily relate to the Company’s rights to consideration for goods or services transferred to the customer, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional. (c) Deferred revenue, including non-current portion, primarily relates to the Company’s receipt of consideration from customers, inclusive of sales tax collected, or billing customers in advance of the Company’s transfer of goods or services to those customers. Deferred revenue is reduced and the related revenue is recognized once the underlying goods or services are transferred to a customer. The Company’s deferred revenue related to local media rights was $34,241 and $0 as of September 30, 2024 and June 30, 2024, respectively. See Note 16 for further details on these related party arrangements. (d) Revenue recognized for the three months ended September 30, 2024 relating to the deferred revenue balance as of June 30, 2024 was $16,713. Transaction Price Allocated to the Remaining Performance Obligations The following table depicts the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2024. In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Additionally, the Company has elected to exclude variable consideration from its disclosure related to the remaining performance obligations under its local media rights arrangements with MSG Networks, league-wide national and international television contracts, and certain other arrangements with variable consideration. Fiscal year ending June 30, 2025 (remainder) $ 161,652 Fiscal year ending June 30, 2026 110,059 Fiscal year ending June 30, 2027 70,484 Fiscal year ending June 30, 2028 39,724 Fiscal year ending June 30, 2029 29,480 Thereafter 19,616 $ 431,015

Computation of Earnings (Loss)

Computation of Earnings (Loss) per Common Share	3 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Computation of Earnings (Loss) per Common Share	Computation of Earnings (Loss) per Common Share The following table presents a reconciliation of loss allocated to common shares and a reconciliation of weighted-average shares used in the calculations of basic and diluted loss per common share attributable to the Company’s stockholders (“EPS”) and the number of shares excluded from diluted loss per common share, as they were anti-dilutive. Three Months Ended September 30, 2024 2023 Net loss allocable to common shares, basic and diluted (numerator): Net loss $ (7,542) $ (18,821) Less: Dividends to other-than-common stockholders (a) 8 6 Net earnings allocable to common shares, basic and diluted (numerator): $ (7,550) $ (18,827) Weighted-average shares (denominator): Weighted-average shares for basic EPS 24,049 23,971 Dilutive effect of shares issuable under share-based compensation plans — — Weighted-average shares for diluted EPS 24,049 23,971 Weighted-average shares excluded from diluted EPS 92 94 Basic loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders $ (0.31) $ (0.79) Diluted loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders $ (0.31) $ (0.79) _________________ (a) Dividends to other-than-common stockholders consists of forfeitable rights to dividends declared and payable to holders of the Company’s unvested restricted stock units and performance restricted stock units.

Team Personnel Transactions

Team Personnel Transactions	3 Months Ended
	Sep. 30, 2024
Team Personnel Transactions [Abstract]
Team Personnel Transactions	Team Personnel Transactions Direct operating and selling, general and administrative expenses in the accompanying consolidated statements of operations include a net provision or credit for transactions relating to the Company’s sports teams for waiver/contract termination costs, player trades and season-ending injuries (“Team personnel transactions”). Team personnel transactions were a net provision of $833 for the three months ended September 30, 2024. There were no Team personnel transactions for the three months ended September 30, 2023.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	3 Months Ended
	Sep. 30, 2024
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of September 30, June 30, September 30, Captions on the consolidated balance sheets: Cash and cash equivalents $ 52,252 $ 89,136 $ 51,208 Restricted cash (a) 5,832 5,771 1,211 Cash, cash equivalents and restricted cash on the consolidated statements of cash flows $ 58,084 $ 94,907 $ 52,419 _________________ (a) Restricted cash as of September 30, 2024, June 30, 2024 and September 30, 2023 included cash deposited in an escrow account (see Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information).

Leases

Leases	3 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases The Company’s leases primarily consist of the lease of the Company’s principal executive offices under the Sublease Agreement with MSG Entertainment (the “Sublease Agreement”) and a lease agreement for an aircraft. In addition, the Company accounts for the rights of use of The Garden pursuant to the Arena License Agreements (as defined below) as leases under the ASC Topic 842, Leases. See Note 7 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information regarding the Company’s accounting policies associated with its leases. As of September 30, 2024, the Company’s exis ting operating leases, which are recorded in the accompanying financial statements, have remaining lease terms ranging from 1 month to 31 years. In certain ins tances, leases include options to renew, with varying option terms. The exercise of lease renewals, if available under the lease options, is generally at the Company’s discretion and is considered in the Company’s assessment of the respective lease term. The Company’s lease agreements do not contain material residual value guarantees or material restrictive covenants. The following table summarizes the right-of-use assets and lease liabilities recorded in the accompanying consolidated balance sheets as of September 30, 2024 and June 30, 2024: Line Item in the Company’s Consolidated Balance Sheet September 30, June 30, Right-of-use assets: Operating leases Right-of-use lease assets $ 692,412 $ 694,566 Lease liabilities: Operating leases, current (a) Operating lease liabilities, current $ 49,799 $ 50,267 Operating leases, noncurrent (a) Operating lease liabilities, noncurrent 738,555 749,952 Total lease liabilities $ 788,354 $ 800,219 _________________ (a) As of September 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances o f $43,220 and $705,233, r espectively, that are payable to MSG Entertainment. As of June 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances of $43,689 and $715,507, respectively, that are payable to MSG Entertainment. The following table summarizes the activity recorded within the accompanying consolidated statements of operations for the three months ended September 30, 2024 and 2023: Line Item in the Company’s Consolidated Statement of Operations Three Months Ended September 30, 2024 2023 Operating lease cost Direct operating expenses $ 1,311 $ 1,311 Operating lease cost Selling, general and administrative expenses 2,471 2,320 Total lease cost $ 3,782 $ 3,631 Supplemental Information For the three months ended September 30, 2024 and 2023, cash paid for amounts included in the measurement of lease liabilities was $13,493 and $13,072, respectively. The weighted average remaining lease term for operating leases recorded in the accompanying consolidated balance sheet as of September 30, 2024 was 29.6 years. The weighted average discount rate was 7.1% as of September 30, 2024 and represented the Company’s estimated incremental borrowing rate, assuming a secured borrowing, based on the remaining lease term at the time of either (i) adoption of the standard or (ii) the period in which the lease term expectation commenced or was modified. Maturities of operating lease liabilities as of September 30, 2024 were as follows: Fiscal year ending June 30, 2025 (remainder) $ 38,387 Fiscal year ending June 30, 2026 52,155 Fiscal year ending June 30, 2027 53,516 Fiscal year ending June 30, 2028 54,919 Fiscal year ending June 30, 2029 56,363 Thereafter 1,985,246 Total lease payments 2,240,586 Less imputed interest (1,452,232) Total lease liabilities $ 788,354

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets During the first quarter of fiscal year 2025, the Company performed its annual impairment test of goodwill and determined that there were no impairments identified as of the impairment test date. The carrying amount of goodwill as of September 30, 2024 and June 30, 2024 was $226,523. The Company’s indefinite-lived intangible assets as of September 30, 2024 and June 30, 2024 were as follows: Sports franchises $ 102,564 Photographic related rights 1,080 $ 103,644 During the first quarter of fiscal year 2025, the Company performed its annual impairment test of identifiable indefinite-lived intangible assets and determined that there were no impairments identified as of the impairment test date.

Investments

Investments	3 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The Company’s Investments reported in the accompanying consolidated balance sheets, consisted of the following: September 30, June 30, Equity method investments: NRG $ 7,306 $ 7,536 Other equity method investments 4,846 5,038 Equity investments with readily determinable fair values: Xtract One Technologies Inc. (“Xtract One”) common stock 16,847 17,380 Other equity investments with readily determinable fair values held in trust under the Company’s Executive Deferred Compensation Plan 21,939 18,837 Equity investments without readily determinable fair values (a) 7,561 6,757 Derivative instruments: Xtract One warrants 5,951 6,995 Total investments $ 64,450 $ 62,543 _________________ (a) For the three months ended September 30, 2024 and 2023, the Company did not record any impairment charges or changes in carrying value of its equity securities without readily determinable fair values in the accompanying consolidated statements of operations. Equity Method Investments NRG In April 2023, the Company sold its controlling interest in Counter Logic Gaming (“CLG”), a North American esports organization, to Hard Carry Gaming, Inc. (“NRG”), a professional gaming and entertainment company, in exchange for a noncontrolling equity interest in the combined NRG/CLG company. The Company received preferred shares representing approximately 25% of the capital stock of NRG. The Company deconsolidated the CLG business and recorded the investment in NRG at fair value as an equity method investment in the fourth quarter of fiscal year 2023. During the three months ended September 30, 2024 and 2023, the Company recognized its net share of losses of $230 and $415, respectively, in Miscellaneous expense, net within the Company’s consolidated statements of operations. As of September 30, 2024 and June 30, 2024, the Company’s ownership in NRG was approximately 25%. Equity Investments with Readily Determinable Fair Values The Company holds investments in equity instruments with readily determinable fair value: • Xtract One, a technology-driven threat detection and security solution company that is listed on the Toronto Stock Exchange under the symbol “XTRA”. The Company holds common stock of Xtract One and holds warrants entitling the Company to acquire additional shares of common stock of Xtract One which are considered derivative instruments. Refer to Note 10 for further details regarding the Company’s warrants, including the inputs used in determining the fair value of the warrants. • Other equity investments held in trust under the Company’s Executive Deferred Compensation Plan. Refer to Note 13 for further details regarding the plan. The fair value of the Company’s investments in common stock of Xtract One and other investments held in trust are determined based on quoted market prices in active markets, which are classified within Level I of the fair value hierarchy. The cost basis and carrying value of equity investments with readily determinable fair values are as follows: September 30, 2024 June 30, 2024 Cost Basis Carrying Value/Fair Value Cost Basis Carrying Value/Fair Value Xtract One common stock $ 7,221 $ 16,847 $ 7,721 $ 17,380 Other equity investments with readily determinable fair values 18,647 21,939 16,510 18,837 $ 25,868 $ 38,786 $ 24,231 $ 36,217 The following table summarizes the realized and unrealized gains (losses) on equity investments with readily determinable fair values, recorded within Miscellaneous expense, net within the Company’s consolidated statements of operations, for the three months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 2023 Unrealized loss - Xtract One common stock $ (533) $ (6,553) Unrealized gain (loss) - other equity investments with readily determinable fair values 965 (130) Realized gain - other equity investments with readily determinable fair values — 26 $ 432 $ (6,657)

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table presents the Company’s assets that are measured at fair value on a recurring basis, which include cash equivalents: Fair Value Hierarchy September 30, June 30, Assets: Money market accounts I $ 22,523 $ 37,594 Time deposits I 27,066 49,510 Equity investments I 38,786 36,217 Warrants III 5,951 6,995 Total assets measured at fair value $ 94,326 $ 130,316 Level I Inputs Assets that are classified within Level I of the fair value hierarchy are valued using observable inputs that reflect quoted prices for identical assets in active markets. The carrying amount of the Company’s money market accounts and time deposits approximates fair value due to their short-term maturities. Refer to Note 9 for further details regarding equity investments. Level III Inputs The Company’s level III assets consist of warrants entitling the Company to acquire additional common stock of Xtract One. The Company’s warrants are included within Investments in the accompanying consolidated balance sheets. Changes in the fair value of derivative instruments are measured at each reporting date and are recorded within Miscellaneous expense, net in the accompanying consolidated statements of operations. The fair value of the Company’s warrants in Xtract One were determined using the Black-Scholes option pricing model. The following are key assumptions used to calculate the fair value of the warrants as of September 30, 2024 and June 30, 2024: September 30, June 30, Expected term 1.68 years 1.80 years Expected volatility 60.51 % 64.15 % Risk-free interest rate 3.77 % 4.73 % The following table presents additional information about our assets for which we utilize Level III inputs to determine fair value: Three Months Ended September 30, 2024 2023 Balance at beginning of period $ 6,995 $ 13,098 Unrealized losses on warrants (1,044) (5,418) Balance at end of period $ 5,951 $ 7,680 The carrying value and fair value of the Company’s debt reported in the accompanying consolidated balance sheets are as follows: September 30, 2024 June 30, 2024 Carrying Fair Carrying Fair Liabilities Debt, current (a) $ 30,000 $ 30,000 $ 30,000 $ 30,000 Long-term debt (b) $ 275,000 $ 275,000 $ 275,000 $ 275,000 _________________ (a) The Company’s debt, current is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar securities for which the inputs are readily observable. The fair value of the Company’s debt, current is the same as its carrying amount based on valuation of similar securities. See Note 12 for further details. (b) The Company’s long-term debt is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar securities for which the inputs are readily observable. The fair value of the Company’s long-term debt is the same as its carrying amount as the debt bears interest at a variable rate indexed to current market conditions. See Note 12 for further details.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments As more fully described in Note 12 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024, the Company’s commitments consist primarily of the Company’s obligations under employment agreements that the Company has with its professional sports teams’ personnel that are generally guaranteed regardless of employee injury or termination. In addition, see Note 7 for more information on the contractual obligations related to future lease payments. The Company did not have any material changes in its contractual obligations, including off-balance sheet commitments, since the end of fiscal year 2024 other than activities in the ordinary course of business. Legal Matters The Company is a defendant in various lawsuits. Although the outcome of these lawsuits cannot be predicted with certainty (including the extent of available insurance, if any), management does not believe that resolution of these lawsuits will have a material adverse effect on the Company.

Debt

Debt	3 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Knicks Revolving Credit Facility On September 30, 2016, New York Knicks, LLC (“Knicks LLC”), a wholly owned subsidiary of the Company, entered into a credit agreement (the “2016 Knicks Credit Agreement”) with a syndicate of lenders providing for a senior secured revolving credit facility of up to $200,000 with a term of five years to fund working capital needs and for general corporate purposes. On November 6, 2020, the Company amended and restated the 2016 Knicks Credit Agreement in its entirety (the “2020 Knicks Credit Agreement”). On December 14, 2021, Knicks LLC entered into Amendment No. 2 to the 2020 Knicks Credit Agreement, which amended and restated the 2020 Knicks Credit Agreement (as amended and restated, the “Knicks Credit Agreement”). The Knicks Credit Agreement provides for a senior secured revolving credit facility of up to $275,000 (the “Knicks Revolving Credit Facility”) to fund working capital needs and for general corporate purposes. The maturity date of the Knicks Credit Agreement is December 14, 2026. Amounts borrowed may be distributed to the Company except during an event of default. All borrowings under the Knicks Revolving Credit Facility are subject to the satisfaction of certain customary conditions, including a representation as to the absence of a bankruptcy or insolvency event (as set forth in the Knicks Credit Agreement) with respect to the obligor (including MSG Networks) under any local media rights agreement. Borrowings under the Knicks Credit Agreement bear interest at a floating rate, which at the option of Knicks LLC may be either (i) a base rate plus a margin ranging from 0.250% to 0.500% per annum or (ii) term Secured Overnight Financing Rate (“SOFR”) plus a credit spread adjustment of 0.100% per annum plus a margin ranging from 1.250% to 1.500% per annum depending on the credit rating applicable to the NBA’s league-wide credit facility. Knicks LLC is required to pay a commitment fee ranging from 0.250% to 0.300% per annum in respect of the average daily unused commitments under the Knicks Revolving Credit Facility. The outstanding balance under the Knicks Revolving Credit Facility was $275,000 as of September 30, 2024, which was recorded as Long-term debt in the accompanying consolidated balance sheet. The interest rate on the Knicks Revolving Credit Facility as of September 30, 2024 was 6.22% . During the three months ended September 30, 2024 the Company made interest payments of $4,793 in respect of the Knicks Revolving Credit Facility. All obligations under the Knicks Revolving Credit Facility are secured by a first lien security interest in certain of Knicks LLC’s assets, including, but not limited to, (i) the Knicks LLC’s membership rights in the NBA, (ii) revenues to be paid to Knicks LLC by the NBA pursuant to certain U.S. national broadcast agreements, and (iii) revenues to be paid to Knicks LLC pursuant to local media contracts. Subject to customary notice and minimum amount conditions, Knicks LLC may voluntarily prepay outstanding loans under the Knicks Revolving Credit Facility at any time, in whole or in part, without premium or penalty (except for customary breakage costs with respect to SOFR-based loans). Knicks LLC is required to make mandatory prepayments in certain circumstances, including without limitation if the maximum available amount under the Knicks Revolving Credit Facility is greater than 350% of qualified revenues. In addition to the financial covenant described above, the Knicks Credit Agreement and related security agreement contain certain customary representations and warranties, affirmative covenants and events of default. The Knicks Revolving Credit Facility contains certain restrictions on the ability of Knicks LLC to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the Knicks Revolving Credit Facility, including the following: (i) incurring additional indebtedness and contingent liabilities; (ii) creating liens on certain assets; (iii) making restricted payments during the continuance of an event of default under the Knicks Revolving Credit Facility; (iv) engaging in sale and leaseback transactions; (v) merging or consolidating; and (vi) taking certain actions that would invalidate the secured lenders’ liens on any Knicks LLC’s collateral. The Knicks Revolving Credit Facility requires Knicks LLC to comply with a debt service ratio of at least 1.5:1.0 over a trailing four quarter period. As of September 30, 2024, Knicks LLC was in compliance with this financial covenant. Rangers Revolving Credit Facility On January 25, 2017, New York Rangers, LLC (“Rangers LLC”), a wholly owned subsidiary of the Company, entered into a credit agreement (the “2017 Rangers Credit Agreement”) with a syndicate of lenders providing for a senior secured revolving credit facility of up to $150,000 with a term of five years to fund working capital needs and for general corporate purposes. On November 6, 2020, the Company amended and restated the 2017 Rangers Credit Agreement in its entirety (the “2020 Rangers Credit Agreement”). On December 14, 2021, Rangers LLC entered into Amendment No. 3 to the 2020 Rangers Credit Agreement, which amended and restated the 2020 Rangers Credit Agreement (as amended and restated, the “Rangers Credit Agreement”). The Rangers Credit Agreement provides for a senior secured revolving credit facility of up to $250,000 (the “Rangers Revolving Credit Facility”) to fund working capital needs and for general corporate purposes. The maturity date of the Rangers Credit Agreement is December 14, 2026. Amounts borrowed may be distributed to the Company except during an event of default. All borrowings under the Rangers Revolving Credit Facility are subject to the satisfaction of certain customary conditions, including a representation as to the absence of a bankruptcy or insolvency event (as set forth in the Rangers Credit Agreement) with respect to the obligor (including MSG Networks) under any local media rights agreement. Borrowings under the Rangers Revolving Credit Facility bear interest at a floating rate, which at the option of Rangers LLC may be either (i) a base rate plus a margin ranging from 0.500% to 1.000% per annum or (ii) term SOFR plus a credit spread adjustment of 0.100% per annum plus a margin ranging from 1.500% to 2.000% per annum depending on the credit rating applicable to the NHL’s league-wide credit facility. Rangers LLC is required to pay a commitment fee ranging from 0.375% to 0.625% per annum in respect of the average daily unused commitments under the Rangers Revolving Credit Facility. There were no borrowings under the Rangers Revolving Credit Facility as of September 30, 2024 and accordingly the Company did not make any interest payments during the three months ended September 30, 2024 in respect of the Rangers Revolving Credit Facility. All obligations under the Rangers Revolving Credit Facility are, subject to the Rangers NHL Advance Agreement (as defined below), secured by a first lien security interest in certain of Rangers LLC’s assets, including, but not limited to, (i) Rangers LLC’s membership rights in the NHL, (ii) revenues to be paid to Rangers LLC by the NHL pursuant to certain U.S. and Canadian national broadcast agreements, and (iii) revenues to be paid to Rangers LLC pursuant to local media contracts. Subject to customary notice and minimum amount conditions, Rangers LLC may voluntarily prepay outstanding loans under the Rangers Revolving Credit Facility at any time, in whole or in part, without premium or penalty (except for customary breakage costs with respect to SOFR-based loans). Rangers LLC is required to make mandatory prepayments in certain circumstances, including without limitation if qualified revenues are less than 17% of the maximum available amount under the Rangers Credit Agreement. In addition to the financial covenant described above, the Rangers Credit Agreement and related security agreement contain certain customary representations and warranties, affirmative covenants and events of default. The Rangers Revolving Credit Facility contains certain restrictions on the ability of Rangers LLC to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the Rangers Revolving Credit Facility, including the following: (i) incurring additional indebtedness and contingent liabilities; (ii) creating liens on certain assets; (iii) making restricted payments during the continuance of an event of default under the Rangers Revolving Credit Facility; (iv) engaging in sale and leaseback transactions; (v) merging or consolidating; and (vi) taking certain actions that would invalidate the secured lenders’ liens on any of Rangers LLC’s assets securing the obligations under the Rangers Revolving Credit Facility. The Rangers Credit Agreement includes an event of default that is implicated by a bankruptcy or insolvency event with respect to a material media rights counterparty, including MSG Networks. The Rangers Revolving Credit Facility requires Rangers LLC to comply with a debt service ratio of at least 1.5:1.0 over a trailing four quarter period. As of September 30, 2024, Rangers LLC was in compliance with this financial covenant. Rangers NHL Advance Agreement On March 19, 2021, Rangers LLC, Rangers Holdings, LLC and MSG NYR Holdings LLC entered into an advance agreement with the NHL (the “Rangers NHL Advance Agreement”) pursuant to which the NHL advanced $30,000 to Rangers LLC. The advance is required to be utilized solely and exclusively to pay for Rangers LLC operating expenses. All obligations under the Rangers NHL Advance Agreement are senior to and shall have priority over all secured and other indebtedness of Rangers LLC, Rangers Holdings, LLC and MSG NYR Holdings LLC. All borrowings under the Rangers NHL Advance Agreement were made on a non-revolving basis and bear interest at 3.00% per annum, ending on the date any such advances are fully repaid. Advances received under the Rangers NHL Advance Agreement are payable upon demand by the NHL. It is expected that the advanced amount will be set off against funds that would otherwise be paid, distributed or transferred by the NHL to Rangers LLC. The outstanding balance under the Rangers NHL Advance Agreement was $30,000 as of September 30, 2024 and was recorded as Debt in the accompanying consolidated balance sheet. During the three months ended September 30, 2024 the Company made interest p ayments of $225. Deferred Financing Costs The following table summarizes deferred financing costs, net of amortization, related to the Company’s credit facilities as reported in the accompanying consolidated balance sheets: September 30, June 30, Other current assets $ 1,145 $ 1,145 Other assets 1,379 1,665

Benefit Plans

Benefit Plans	3 Months Ended
	Sep. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Benefit Plans	Benefit Plans Defined Benefit Pension Plans The Company sponsors the MSG Sports, LLC Excess Cash Balance Plan (the “Excess Cash Balance Plan”), an unfunded non-contributory, non-qualified excess cash balance plan and the MSG Sports, LLC Excess Retirement Plan, an unfunded non-contributory, non-qualified defined benefit pension plan for the benefit of certain employees (collectively referred to as the “Pension Plans”). All benefits in the Company’s Pension Plans are frozen and participants are not able to earn benefits for future service under these plans, and no employee of the Company who was not already a participant as of the date the respective plan was frozen may become a participant in the Pension Plans. Existing account balances under the Excess Cash Balance Plan are credited with monthly interest in accordance with the terms of the plan. The following table presents components of net periodic benefit cost for the Pension Plans included in the accompanying consolidated statements of operations for the three months ended September 30, 2024 and 2023. Components of net periodic benefit cost are reported in Miscellaneous expense, net: Three Months Ended September 30, 2024 2023 Interest cost $ 63 $ 68 Recognized actuarial loss 20 9 Net periodic benefit cost $ 83 $ 77 Defined Contribution Plans MSG Sports employees participate in The Madison Square Garden 401(k) Savings Plan (the “401(k) Plan”), which is a multiple employer plan sponsored by MSG Entertainment Holdings, LLC, a wholly owned subsidiary of MSG Entertainment. In addition, the Company sponsors the MSG Sports LLC, Excess Savings Plan (the “Excess Savings Plan”), which provides non-qualified retirement benefits to eligible MSG Sports employees. Expense related to the 401(k) Plan and Excess Savings Plan for the three months ended September 30, 2024 and 2023 was $1,283 and $1,294 , respectively. Executive Deferred Compensation Plan See Note 14 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information regarding the Company’s E xecutive Deferred Compensation Plan (the “Deferred Compensation Plan”). The Company recorded compensation expense/(compensation cost credits) of $965 and $(104) for the three months ended September 30, 2024 and 2023, respectively , within Selling, general and administrative expenses to reflect the remeasurement of the Deferred Compensation Plan liability. In addition, the Company recorded gains/(losses) of $965 and $(104) for the three months ended September 30, 2024 and 2023, respectively , within Miscellaneous expense, net to reflect t he remeasurement of the fair value of assets under the Deferred Compensation Plan. The following table summarizes amounts recognized related to the Deferred Compensation Plan in the consolidated balance sheets: September 30, June 30, Non-current assets (included in investments) $ 21,939 $ 18,837 Current liabilities (included in accrued employee related costs) (1,318) (1,233) Non-current liabilities (included in other employee related costs) (20,621) (17,604)

Share-based Compensation

Share-based Compensation	3 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation See Note 15 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information regarding the Company’s 2015 Employee Stock Plan (the “Employee Stock Plan”) and its 2015 Stock Plan for Non-Employee Directors. Share-based compensation expense is recognized in the consolidated statements of operations as a component of Selling, general and administrative expenses. Share-based compensation expense was $4,268 and $4,149 for the three months ended September 30, 2024 and 2023, respectively. There were no costs related to share-based compensation that were capitalized for the three months ended September 30, 2024 and 2023. Restricted Stock Units Award Activity The following table summarizes activity related to the Company’s restricted stock units and performance restricted stock units, collectively referred to as “RSUs,” held by current and former employees of the Company and non-employee directors, for the three months ended September 30, 2024: Number of Weighted-Average Fair Value Per Share at Date of Grant (a) Nonperformance Performance Unvested award balance, June 30, 2024 105 153 $ 170.61 Granted 43 46 $ 205.31 Vested (44) (59) $ 164.24 Forfeited / Cancelled (1) (2) $ 170.43 Unvested award balance, September 30, 2024 103 138 $ 186.26 _____________________ (a) Weighted-average fair value per share at date of grant does not reflect any adjustments to awards granted prior to the Sphere Distribution. The fair value of RSUs that vested during the three months ended September 30, 2024 was $21,227. Upon delivery, RSUs granted under the Employee Stock Plan were net share-settled to cover the required statutory tax withholding obligations. To fulfill the Company’s current and former employees’ required statutory tax withholding obligations for the applicable income and other employment taxes, 39 of these RSUs, with an aggregate value of $7,951, inclusive of $24 related to the Company’s former employees (who vested in the Company’s RSUs), were retained by the Company and the taxes paid are reflected as a financing activity in the accompanying consolidated statement of cash flows for the three months ended September 30, 2024. The fair value of RSUs that vested during the three months ended September 30, 2023 was $16,637. The weighted-average fair value per share at grant date of RSUs granted during the three months ended September 30, 2023 was $178.45. Stock Options Award Activity The following table summarizes activity related to the Company’s stock options for the three months ended September 30, 2024: Number of Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Balance as of June 30, 2024 94 $ 138.78 Granted — $ — Cancelled — $ — Balance as of September 30, 2024 94 $ 138.78 3.21 $ 6,519 Exercisable as of September 30, 2024 94 $ 138.78 3.21 $ 6,519

Stock Repurchase Program

Stock Repurchase Program	3 Months Ended
	Sep. 30, 2024
Stock Repurchase Program [Abstract]
Stock Repurchase Program	Stock Repurchase Program Effective as of October 1, 2015, the Company’s board of directors authorized the repurchase of up to $525,000 of the Company’s Class A Common Stock (“Class A Common Stock”). Under the authorization, shares of Class A Common Stock may be purchased from time to time in open market or private transactions, block trades or such other manner as the Company may determine, in accordance with applicable insider trading and other securities laws and regulations. The timing and amount of purchases will depend on market conditions and other factors. During the three months ended September 30, 2024 and 2023, the Company did not repurchase any shares under its share repurchase program. As of September 30, 2024, the Company had $184,639 of availability remaining under its stock repurchase authorization .

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of September 30, 2024, certain members of the Dolan family, including certain trusts for members of the Dolan family (collectively, the “Dolan Family Group”), for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, collectively beneficially owned 100% of the Company’s outstanding Class B Common Stock and approximately 3.0% of the Company’s outstanding Class A Common Stock. Such shares of the Company’s Class A Common Stock and Class B Common Stock, collectively, represented approximately 70.9% of the aggregate voting power of the Company’s outstanding common stock as of September 30, 2024. Members of the Dolan family are also the controlling stockholders of Sphere Entertainment, MSG Entertainment and AMC Networks Inc. (“AMC Networks”). The Company was party to the following agreements and/or arrangements with MSG Entertainment as of September 30, 2024: • Arena license agreements, entered into in April 2020 (the “Arena License Agreements”), pursuant to which MSG Entertainment (i) provides the right to use The Garden for games of the Knicks and the Rangers for a 35-year term in exchange for arena license fees, (ii) shares revenues collected for suite and club licenses, (iii) operates and manages the sale of the sports teams’ merchandise at The Garden for a commission, (iv) operates and manages the sales of food and beverage concessions in exchange for 50% of net profits from sales and catering services during Knicks and Rangers home games, (v) shares revenues collected for the sale of venue indoor signage space and sponsorship rights at The Garden that are not specific to our sports teams, (vi) provides day of game services, and (vii) provides other general services within The Garden; • Sponsorship sales and service representation agreements pursuant to which MSG Entertainment has the exclusive right and obligation to sell the Company’s sponsorships for an initial stated term of 10 years for a commission. In addition, under these agreements, the Company is charged by MSG Entertainment for sales and service staff and overhead associated with the sales of sponsorship assets; • Team sponsorship allocation agreement with MSG Entertainment, pursuant to which the sports teams receive an allocation of sponsorship and signage revenues associated with sponsorship agreements that include the assets of both the Company and MSG Entertainment; • Services agreement (the “Services Agreement”) pursuant to which the Company (i) receives certain services from MSG Entertainment, such as information technology, accounts payable, payroll, human resources, and other corporate functions, and executive support services, in exchange for service fees and (ii) provides certain services to MSG Entertainment, such as certain communications, legal and ticketing services, in exchange for service fees; • Arrangements pursuant to which the Company provides MSG Entertainment certain services associated with the management of premium hospitality sales and other business operations services; • The Sublease Agreement, pursuant to which the Company leases office space from MSG Entertainment; • Group ticket sales representation agreement, pursuant to which MSG Entertainment appointed the Company as its sales and service representative to sell group ticket packages related to MSG Entertainment events in exchange for a commission and reimbursement for sales and service staff and overhead associated with ticket sales on behalf of MSG Entertainment; • Single night rental commission agreement, pursuant to which the Company may, from time to time, sell (or make referrals for sales of) licenses for the use of suites at The Garden for individual MSG Entertainment events in exchange for a commission; and • Other agreements with MSG Entertainment entered into in connection with the Sphere Distribution, including a trademark license agreement and certain other arrangements. The Company was also party to the following agreements and/or arrangements with Sphere Entertainment (including through its subsidiary MSG Networks) as of September 30, 2024 : • Media rights agreements between the Company and MSG Networks, entered into in July 2015 with stated terms of 20 years, providing MSG Networks with local telecast rights for Knicks and Rangers games in exchange for media rights fees; • Arrangements with MSG Networks pursuant to which the Knicks and the Rangers have allocated revenues with MSG Networks related to virtual advertising inventory; • Arrangements pursuant to which the Company provides Sphere Entertainment with certain business operations services; • Other agreements with Sphere Entertainment in connection with the Sphere Distribution, including a distribution agreement, a tax disaffiliation agreement and an employee matters agreement and certain other arrangements; and • Other agreements with MSG Networks entered into in connection with the MSGS Distribution, including an employee matters agreement, agreements related to audio-only distribution rights for Knicks and Rangers games, and certain other arrangements. Prior to April 1, 2024, the Company was also party to arrangements with MSG Entertainment and Sphere Entertainment pursuant to which the Company provided certain sponsorship services to MSG Entertainment and Sphere Entertainment in exchange for services fees. The Company is also party to time-sharing and dry lease arrangements with MSG Entertainment in connection with aircraft leased by the Company and MSG Entertainment, as well as arrangements with MSG Entertainment and Sphere Entertainment pursuant to which the three companies have agreed to allocate expenses in connection with the use by each company of such aircraft. In addition, the Company shares certain executive support costs, including office space, executive assistants, security and transportation costs for: (i) the Company’s Executive Chairman and Chief Executive Officer with MSG Entertainment and Sphere Entertainment, (ii) the Company’s Vice Chairman with MSG Entertainment, Sphere Entertainment, and AMC Networks, and (iii) the Company’s Executive Vice President with Sphere Entertainment and AMC Networks. Additionally, the Company, MSG Entertainment, Sphere Entertainment, and AMC Networks allocate the costs of certain personal aircraft and helicopter usage by their shared executives. Revenues and Operating Expenses (Credits) The following table summarizes the composition and amounts of the transactions with the Company’s affiliates. These amounts are reflected in revenues and operating expenses in the accompanying consolidated statements of operations for the three months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 2023 Revenues (a) $ 8,904 $ 8,817 Operating expenses: Expense pursuant to the Services Agreement $ 8,477 $ 9,887 Rent expense pursuant to Sublease Agreement 894 750 Costs associated with the Sponsorship sales and service representation agreements 2,612 2,601 Operating lease expense associated with the Arena License Agreements 1,311 1,311 Other costs associated with the Arena License Agreements 1,013 804 Other operating credits, net (150) (612) ___________________ (a) Primarily consist of local media rights recognized from the licensing of team-related programming under the media rights agreements covering the Knicks and the Rangers.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In general, the Company is required to use an estimated annual effective tax rate to measure the tax benefit or tax expense recognized in an interim period. The estimated annual effective tax rate exceeds the statutory federal tax rate of 21% primarily due to state taxes, nondeductible officers’ compensation, and players’ disability insurance premiums expense. The estimated annual effective tax rate is revised on a quarterly basis. Income tax benefit for the three months ended September 30, 2024 of $7,048 reflects an effective tax rate of 48%. Income tax benefit for the three months ended September 30, 2023 of $15,144 reflects an effective tax rate of 45%. During the three months ended September 30, 2024, the Company made income tax payments, net of refunds, of $10,280.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated interim financial statements (referred to as the “Financial Statements” herein) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”) for interim financial information, and should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 (“fiscal year 2024”). The Financial Statements presented in this Quarterly Report on Form 10-Q are unaudited; however, in the opinion of management, the Financial Statements reflect all adjustments, consisting solely of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. The results of operations for the periods presented are not necessarily indicative of the results that might be expected for future interim periods or for the full fiscal year. The dependence of MSG Sports on revenues from its NBA and NHL sports teams generally means it earns a disproportionate share of its revenues in the second and third quarters of the Company’s fiscal year, which is when the majority of the sports teams’ games are played.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of Madison Square Garden Sports Corp. and its subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the accompanying Financial Statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of accounts receivable, other current assets, goodwill, intangible assets, other long-lived assets, fair value of investments, deferred tax valuation allowance, tax accruals, and other liabilities. In addition, estimates are used in revenue recognition, revenue sharing expense (net of escrow and excluding playoffs), luxury tax expense, income tax expense (benefit), performance and share-based compensation, depreciation and amortization, litigation matters and other matters. Management believes its use of estimates in the Financial Statements to be reasonable. Management evaluates its estimates on an ongoing basis using historical experience and other factors, including the general economic environment and actions it may take in the future. The Company adjusts such estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time and, as such, these estimates may ultimately differ from actual results. Changes in estimates resulting from weakness in the economic environment or other factors beyond the Company’s control could be material and would be reflected in the Company’s financial statements in future periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-01, Leases (Topic 842): Common Control Arrangements. This ASU amends certain provisions of Accounting Standards Codification (“ASC”) 842, Leases that apply to arrangements between related parties under common control. The Company adopted this standard as of the beginning of the fiscal year ending June 30, 2025 (“fiscal year 2025”) and the adoption did not have an impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. The ASU is effective for the Company’s Annual Report on Form 10-K for fiscal year 2025 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its segment disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU enhances annual disclosures related to the effective income tax rate reconciliation and income taxes paid. The ASU is effective for the Company’s Annual Report on Form 10-K for the fiscal year ending June 30, 2026 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its income tax disclosures.
Revenue, Remaining Performance Obligation	In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Additionally, the Company has elected to exclude variable consideration from its disclosure related to the remaining performance obligations under its local media rights arrangements with MSG Networks, league-wide national and international television contracts, and certain other arrangements with variable consideration.
Fair Value Measurement	The fair value of the Company’s investments in common stock of Xtract One and other investments held in trust are determined based on quoted market prices in active markets, which are classified within Level I of the fair value hierarchy.
Valuation of Warrants	The Company’s level III assets consist of warrants entitling the Company to acquire additional common stock of Xtract One. The Company’s warrants are included within Investments in the accompanying consolidated balance sheets. Changes in the fair value of derivative instruments are measured at each reporting date and are recorded within Miscellaneous expense, net in the accompanying consolidated statements of operations. The fair value of the Company’s warrants in Xtract One were determined using the Black-Scholes option pricing model.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Sep. 30, 2024
Revenue Recognition [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates the Company’s revenues by type of goods or services in accordance with the disclosure requirements set forth in ASC Subtopic 280-10-50-38 to 40 and the disaggregation of revenue required disclosures in accordance with ASC Subtopic 606-10-50-5 for the three months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 2023 Event-related (a) $ 6,085 $ 5,821 Media rights (b) 7,353 7,219 Sponsorship, signage and suite licenses 5,188 5,314 League distributions and other 34,681 24,692 Total revenues from contracts with customers $ 53,307 $ 43,046 _________________ (a) Consists of (i) ticket sales and other ticket-related revenues, and (ii) food, beverage and merchandise sales at The Garden. (b) Consists of (i) local media rights fees, (ii) revenue from the distribution through league-wide national television contracts, and (iii) other local radio rights fees.
Schedule of Contract Balances	The following table provides information about contract balances from the Company’s contracts with customers as of September 30, 2024 and June 30, 2024: September 30, June 30, 2024 2024 Receivables from contracts with customers, net (a) $ 45,210 $ 19,930 Contract assets, current (b) 9,333 14,054 Deferred revenue, including non-current portion (c), (d) 307,959 149,825 _________________ (a) Receivables from contracts with customers, net, which are reported in Accounts receivable, net and Net related party receivables in the accompanying consolidated balance sheets, represent the Company’s unconditional rights to consideration under its contracts with customers. As of September 30, 2024 and June 30, 2024, the Company’s receivables reported above incl uded $235 and $0 , respectively, related to contracts with customers that are related parties. See Note 16 for further details on these related party arrangements. Receivables from contracts with customers, net, excludes amounts recorded in Accounts receivable, net, associated with amounts due from the NBA related to luxury tax payments. (b) Contract assets, current, which are reported as Other current assets in the accompanying consolidated balance sheets, primarily relate to the Company’s rights to consideration for goods or services transferred to the customer, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional. (c) Deferred revenue, including non-current portion, primarily relates to the Company’s receipt of consideration from customers, inclusive of sales tax collected, or billing customers in advance of the Company’s transfer of goods or services to those customers. Deferred revenue is reduced and the related revenue is recognized once the underlying goods or services are transferred to a customer. The Company’s deferred revenue related to local media rights was $34,241 and $0 as of September 30, 2024 and June 30, 2024, respectively. See Note 16 for further details on these related party arrangements. (d) Revenue recognized for the three months ended September 30, 2024 relating to the deferred revenue balance as of June 30, 2024 was $16,713.
Schedule of Estimated Revenue Expected to be Recognized in the Future Related to Performance Obligations	The following table depicts the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2024. In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Additionally, the Company has elected to exclude variable consideration from its disclosure related to the remaining performance obligations under its local media rights arrangements with MSG Networks, league-wide national and international television contracts, and certain other arrangements with variable consideration. Fiscal year ending June 30, 2025 (remainder) $ 161,652 Fiscal year ending June 30, 2026 110,059 Fiscal year ending June 30, 2027 70,484 Fiscal year ending June 30, 2028 39,724 Fiscal year ending June 30, 2029 29,480 Thereafter 19,616 $ 431,015

Computation of Earnings (Loss_2

Computation of Earnings (Loss) per Common Share (Tables)	3 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Earnings (Loss) Allocated to Common Shares and Weighted-Average Shares	The following table presents a reconciliation of loss allocated to common shares and a reconciliation of weighted-average shares used in the calculations of basic and diluted loss per common share attributable to the Company’s stockholders (“EPS”) and the number of shares excluded from diluted loss per common share, as they were anti-dilutive. Three Months Ended September 30, 2024 2023 Net loss allocable to common shares, basic and diluted (numerator): Net loss $ (7,542) $ (18,821) Less: Dividends to other-than-common stockholders (a) 8 6 Net earnings allocable to common shares, basic and diluted (numerator): $ (7,550) $ (18,827) Weighted-average shares (denominator): Weighted-average shares for basic EPS 24,049 23,971 Dilutive effect of shares issuable under share-based compensation plans — — Weighted-average shares for diluted EPS 24,049 23,971 Weighted-average shares excluded from diluted EPS 92 94 Basic loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders $ (0.31) $ (0.79) Diluted loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders $ (0.31) $ (0.79) _________________ (a) Dividends to other-than-common stockholders consists of forfeitable rights to dividends declared and payable to holders of the Company’s unvested restricted stock units and performance restricted stock units.

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	3 Months Ended
	Sep. 30, 2024
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of September 30, June 30, September 30, Captions on the consolidated balance sheets: Cash and cash equivalents $ 52,252 $ 89,136 $ 51,208 Restricted cash (a) 5,832 5,771 1,211 Cash, cash equivalents and restricted cash on the consolidated statements of cash flows $ 58,084 $ 94,907 $ 52,419 _________________ (a) Restricted cash as of September 30, 2024, June 30, 2024 and September 30, 2023 included cash deposited in an escrow account (see Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information).
Schedule of Restricted Cash	The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of September 30, June 30, September 30, Captions on the consolidated balance sheets: Cash and cash equivalents $ 52,252 $ 89,136 $ 51,208 Restricted cash (a) 5,832 5,771 1,211 Cash, cash equivalents and restricted cash on the consolidated statements of cash flows $ 58,084 $ 94,907 $ 52,419 _________________ (a) Restricted cash as of September 30, 2024, June 30, 2024 and September 30, 2023 included cash deposited in an escrow account (see Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information).

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Supplemental Balance Sheet Information	The following table summarizes the right-of-use assets and lease liabilities recorded in the accompanying consolidated balance sheets as of September 30, 2024 and June 30, 2024: Line Item in the Company’s Consolidated Balance Sheet September 30, June 30, Right-of-use assets: Operating leases Right-of-use lease assets $ 692,412 $ 694,566 Lease liabilities: Operating leases, current (a) Operating lease liabilities, current $ 49,799 $ 50,267 Operating leases, noncurrent (a) Operating lease liabilities, noncurrent 738,555 749,952 Total lease liabilities $ 788,354 $ 800,219 _________________ (a) As of September 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances o f $43,220 and $705,233, r espectively, that are payable to MSG Entertainment. As of June 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances of $43,689 and $715,507, respectively, that are payable to MSG Entertainment.
Supplemental Income Statement Information	The following table summarizes the activity recorded within the accompanying consolidated statements of operations for the three months ended September 30, 2024 and 2023: Line Item in the Company’s Consolidated Statement of Operations Three Months Ended September 30, 2024 2023 Operating lease cost Direct operating expenses $ 1,311 $ 1,311 Operating lease cost Selling, general and administrative expenses 2,471 2,320 Total lease cost $ 3,782 $ 3,631
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities as of September 30, 2024 were as follows: Fiscal year ending June 30, 2025 (remainder) $ 38,387 Fiscal year ending June 30, 2026 52,155 Fiscal year ending June 30, 2027 53,516 Fiscal year ending June 30, 2028 54,919 Fiscal year ending June 30, 2029 56,363 Thereafter 1,985,246 Total lease payments 2,240,586 Less imputed interest (1,452,232) Total lease liabilities $ 788,354

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	The Company’s indefinite-lived intangible assets as of September 30, 2024 and June 30, 2024 were as follows: Sports franchises $ 102,564 Photographic related rights 1,080 $ 103,644

Investments (Tables)

Investments (Tables)	3 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments	The Company’s Investments reported in the accompanying consolidated balance sheets, consisted of the following: September 30, June 30, Equity method investments: NRG $ 7,306 $ 7,536 Other equity method investments 4,846 5,038 Equity investments with readily determinable fair values: Xtract One Technologies Inc. (“Xtract One”) common stock 16,847 17,380 Other equity investments with readily determinable fair values held in trust under the Company’s Executive Deferred Compensation Plan 21,939 18,837 Equity investments without readily determinable fair values (a) 7,561 6,757 Derivative instruments: Xtract One warrants 5,951 6,995 Total investments $ 64,450 $ 62,543 _________________ (a) For the three months ended September 30, 2024 and 2023, the Company did not record any impairment charges or changes in carrying value of its equity securities without readily determinable fair values in the accompanying consolidated statements of operations.
Schedule of Debt Securities, Trading, and Equity Securities, FV-NI	The cost basis and carrying value of equity investments with readily determinable fair values are as follows: September 30, 2024 June 30, 2024 Cost Basis Carrying Value/Fair Value Cost Basis Carrying Value/Fair Value Xtract One common stock $ 7,221 $ 16,847 $ 7,721 $ 17,380 Other equity investments with readily determinable fair values 18,647 21,939 16,510 18,837 $ 25,868 $ 38,786 $ 24,231 $ 36,217 The following table summarizes the realized and unrealized gains (losses) on equity investments with readily determinable fair values, recorded within Miscellaneous expense, net within the Company’s consolidated statements of operations, for the three months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 2023 Unrealized loss - Xtract One common stock $ (533) $ (6,553) Unrealized gain (loss) - other equity investments with readily determinable fair values 965 (130) Realized gain - other equity investments with readily determinable fair values — 26 $ 432 $ (6,657)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table presents the Company’s assets that are measured at fair value on a recurring basis, which include cash equivalents: Fair Value Hierarchy September 30, June 30, Assets: Money market accounts I $ 22,523 $ 37,594 Time deposits I 27,066 49,510 Equity investments I 38,786 36,217 Warrants III 5,951 6,995 Total assets measured at fair value $ 94,326 $ 130,316
Fair Value Measurement Inputs and Valuation Techniques	The following are key assumptions used to calculate the fair value of the warrants as of September 30, 2024 and June 30, 2024: September 30, June 30, Expected term 1.68 years 1.80 years Expected volatility 60.51 % 64.15 % Risk-free interest rate 3.77 % 4.73 %
Schedule of Additional Information of Assets of Level III Inputs	The following table presents additional information about our assets for which we utilize Level III inputs to determine fair value: Three Months Ended September 30, 2024 2023 Balance at beginning of period $ 6,995 $ 13,098 Unrealized losses on warrants (1,044) (5,418) Balance at end of period $ 5,951 $ 7,680
Schedule of Carrying Value and Fair Value of Debt	The carrying value and fair value of the Company’s debt reported in the accompanying consolidated balance sheets are as follows: September 30, 2024 June 30, 2024 Carrying Fair Carrying Fair Liabilities Debt, current (a) $ 30,000 $ 30,000 $ 30,000 $ 30,000 Long-term debt (b) $ 275,000 $ 275,000 $ 275,000 $ 275,000 _________________ (a) The Company’s debt, current is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar securities for which the inputs are readily observable. The fair value of the Company’s debt, current is the same as its carrying amount based on valuation of similar securities. See Note 12 for further details. (b) The Company’s long-term debt is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar securities for which the inputs are readily observable. The fair value of the Company’s long-term debt is the same as its carrying amount as the debt bears interest at a variable rate indexed to current market conditions. See Note 12 for further details.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Deferred Financing Costs	The following table summarizes deferred financing costs, net of amortization, related to the Company’s credit facilities as reported in the accompanying consolidated balance sheets: September 30, June 30, Other current assets $ 1,145 $ 1,145 Other assets 1,379 1,665

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Sep. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Periodic Benefit Cost	The following table presents components of net periodic benefit cost for the Pension Plans included in the accompanying consolidated statements of operations for the three months ended September 30, 2024 and 2023. Components of net periodic benefit cost are reported in Miscellaneous expense, net: Three Months Ended September 30, 2024 2023 Interest cost $ 63 $ 68 Recognized actuarial loss 20 9 Net periodic benefit cost $ 83 $ 77
Schedule of Deferred Compensation Plan	The following table summarizes amounts recognized related to the Deferred Compensation Plan in the consolidated balance sheets: September 30, June 30, Non-current assets (included in investments) $ 21,939 $ 18,837 Current liabilities (included in accrued employee related costs) (1,318) (1,233) Non-current liabilities (included in other employee related costs) (20,621) (17,604)

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of RSU and PSU Activity	The following table summarizes activity related to the Company’s restricted stock units and performance restricted stock units, collectively referred to as “RSUs,” held by current and former employees of the Company and non-employee directors, for the three months ended September 30, 2024: Number of Weighted-Average Fair Value Per Share at Date of Grant (a) Nonperformance Performance Unvested award balance, June 30, 2024 105 153 $ 170.61 Granted 43 46 $ 205.31 Vested (44) (59) $ 164.24 Forfeited / Cancelled (1) (2) $ 170.43 Unvested award balance, September 30, 2024 103 138 $ 186.26 _____________________ (a) Weighted-average fair value per share at date of grant does not reflect any adjustments to awards granted prior to the Sphere Distribution.
Schedule of Stock Options Award Activity	The following table summarizes activity related to the Company’s stock options for the three months ended September 30, 2024: Number of Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Balance as of June 30, 2024 94 $ 138.78 Granted — $ — Cancelled — $ — Balance as of September 30, 2024 94 $ 138.78 3.21 $ 6,519 Exercisable as of September 30, 2024 94 $ 138.78 3.21 $ 6,519

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the composition and amounts of the transactions with the Company’s affiliates. These amounts are reflected in revenues and operating expenses in the accompanying consolidated statements of operations for the three months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 2023 Revenues (a) $ 8,904 $ 8,817 Operating expenses: Expense pursuant to the Services Agreement $ 8,477 $ 9,887 Rent expense pursuant to Sublease Agreement 894 750 Costs associated with the Sponsorship sales and service representation agreements 2,612 2,601 Operating lease expense associated with the Arena License Agreements 1,311 1,311 Other costs associated with the Arena License Agreements 1,013 804 Other operating credits, net (150) (612) ___________________ (a) Primarily consist of local media rights recognized from the licensing of team-related programming under the media rights agreements covering the Knicks and the Rangers.

Description of Business and B_2

Description of Business and Basis of Presentation (Details)	3 Months Ended
	Sep. 30, 2024 segment team
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of development league teams | team	2
Number of operating segments	1
Number of reportable segments	1

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	[1]	$ 53,307	$ 43,046
Event-related
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	[2]	6,085	5,821
Media rights
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	[3]	7,353	7,219
Sponsorship, signage and suite licenses
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers		5,188	5,314
League distributions and other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers		$ 34,681	$ 24,692
[1] Includes revenues from related parties of $8,904 and $8,817 for the three months ended September 30, 2024 and 2023, respectively. Consists of (i) ticket sales and other ticket-related revenues, and (ii) food, beverage and merchandise sales at The Garden. Consists of (i) local media rights fees, (ii) revenue from the distribution through league-wide national television contracts, and (iii) other local radio rights fees.

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Contract Balances (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2024	Jun. 30, 2024
Contract Assets and Liabilities [Line Items]
Receivables from contracts with customers, net	[1]	$ 45,210	$ 19,930
Contract assets, current	[2]	9,333	14,054
Deferred revenue, including non-current portion	[3],[4]	307,959	149,825
Contract with customer, deferred revenue, revenue recognized		16,713
Related Party
Contract Assets and Liabilities [Line Items]
Receivables from contracts with customers, net		235	0
Deferred revenue, including non-current portion		$ 34,241	$ 0
[1] Receivables from contracts with customers, net, which are reported in Accounts receivable, net and Net related party receivables in the accompanying consolidated balance sheets, represent the Company’s unconditional rights to consideration under its contracts with customers. As of September 30, 2024 and June 30, 2024, the Company’s receivables reported above incl uded $235 and $0 , respectively, related to contracts with customers that are related parties. See Note 16 for further details on these related party arrangements. Receivables from contracts with customers, net, excludes amounts recorded in Accounts receivable, net, associated with amounts due from the NBA related to luxury tax payments. Contract assets, current, which are reported as Other current assets in the accompanying consolidated balance sheets, primarily relate to the Company’s rights to consideration for goods or services transferred to the customer, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional. Revenue recognized for the three months ended September 30, 2024 relating to the deferred revenue balance as of June 30, 2024 was $16,713. Deferred revenue, including non-current portion, primarily relates to the Company’s receipt of consideration from customers, inclusive of sales tax collected, or billing customers in advance of the Company’s transfer of goods or services to those customers. Deferred revenue is reduced and the related revenue is recognized once the underlying goods or services are transferred to a customer. The Company’s deferred revenue related to local media rights was $34,241 and $0 as of September 30, 2024 and June 30, 2024, respectively. See Note 16 for further details on these related party arrangements.

Revenue Recognition - Schedul_3

Revenue Recognition - Schedule of Estimated Revenue Expected to be Recognized in the Future Related to Performance Obligations (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 431,015
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 161,652
Remaining performance obligation period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 110,059
Remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 70,484
Remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 39,724
Remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 29,480
Remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 19,616
Remaining performance obligation period

Computation of Earnings (Loss_3

Computation of Earnings (Loss) per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Net loss allocable to common shares, basic and diluted (numerator):
Net loss		$ (7,542)	$ (18,821)
Less: dividends to other-than-common stockholders	[1]	8	6
Net earnings allocable to common shares, basic		(7,550)	(18,827)
Net earnings allocable to common shares, diluted		$ (7,550)	$ (18,827)
Weighted-average shares (denominator):
Weighted-average shares for basic EPS (in shares)		24,049	23,971
Dilutive effect of shares issuable under share-based compensation plans (in shares)		0	0
Weighted-average shares for diluted EPS (in shares)		24,049	23,971
Weighted-average shares excluded from diluted EPS (in shares)		92	94
Basic loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders (in USD per share)		$ (0.31)	$ (0.79)
Diluted loss per common share attributable to Madison Square Garden Sports Corp.’s stockholders (in USD per share)		$ (0.31)	$ (0.79)
[1] Dividends to other-than-common stockholders consists of forfeitable rights to dividends declared and payable to holders of the Company’s unvested restricted stock units and performance restricted stock units.

Team Personnel Transactions (De

Team Personnel Transactions (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Team Personnel Transactions [Abstract]
Team personnel transactions net provision	$ 833,000	$ 0

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents		$ 52,252	$ 89,136	$ 51,208
Restricted cash	[1]	5,832	5,771	1,211
Cash, cash equivalents and restricted cash on the consolidated statements of cash flows		$ 58,084	$ 94,907	$ 52,419	$ 40,459
[1] Restricted cash as of September 30, 2024, June 30, 2024 and September 30, 2023 included cash deposited in an escrow account (see Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information).

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Sep. 30, 2024
Lessee, Lease, Description [Line Items]
Description of option to extend	In certain instances, leases include options to renew, with varying option terms. The exercise of lease renewals, if available under the lease options, is generally at the Company’s discretion and is considered in the Company’s assessment of the respective lease term.
Description of guarantees or covenants	The Company’s lease agreements do not contain material residual value guarantees or material restrictive covenants.
Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	31 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Jun. 30, 2024
Lessee, Lease, Description [Line Items]
Right-of-use lease assets		$ 692,412	$ 694,566
Operating lease liabilities, current	[1]	49,799	50,267
Operating lease liabilities, noncurrent	[1]	738,555	749,952
Total lease liabilities		788,354	800,219
MSG Entertainment
Lessee, Lease, Description [Line Items]
Operating lease liabilities, current		43,220	43,689
Operating lease liabilities, noncurrent		$ 705,233	$ 715,507
[1] As of September 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances o f $43,220 and $705,233, r espectively, that are payable to MSG Entertainment. As of June 30, 2024, Operating lease liabilities, current and Operating lease liabilities, noncurrent included balances of $43,689 and $715,507, respectively, that are payable to MSG Entertainment.

Leases - Supplemental Income St

Leases - Supplemental Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Total lease cost	$ 3,782	$ 3,631
Direct operating expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	1,311	1,311
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 2,471	$ 2,320

Leases - Supplemental Informati

Leases - Supplemental Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease payments	$ 13,493	$ 13,072
Operating lease, weighted average remaining term	29 years 7 months 6 days
Operating lease, weighted average discount rate (as a percent)	7.10%
Assumption and judgments, discount rate, description	the Company’s estimated incremental borrowing rate, assuming a secured borrowing, based on the remaining lease term at the time of either (i) adoption of the standard or (ii) the period in which the lease term expectation commenced or was modified.

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Leases [Abstract]
Fiscal year ending June 30, 2025 (remainder)	$ 38,387
Fiscal year ending June 30, 2026	52,155
Fiscal year ending June 30, 2027	53,516
Fiscal year ending June 30, 2028	54,919
Fiscal year ending June 30, 2029	56,363
Thereafter	1,985,246
Total lease payments	2,240,586
Less imputed interest	(1,452,232)
Total lease liabilities	$ 788,354	$ 800,219

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0
Goodwill	226,523,000	$ 226,523,000
Impairment of indefinite-lived intangible assets	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Indefinite-lived Intangible Assets by Major Class [Line Items]
Indefinite-lived intangible assets	$ 103,644	$ 103,644
Sports franchises
Indefinite-lived Intangible Assets by Major Class [Line Items]
Indefinite-lived intangible assets	102,564	102,564
Photographic related rights
Indefinite-lived Intangible Assets by Major Class [Line Items]
Indefinite-lived intangible assets	$ 1,080	$ 1,080

Investments - Schedule of Inves

Investments - Schedule of Investments (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Jun. 30, 2024
Schedule of Investments [Line Items]
Equity investments with readily determinable fair values		$ 38,786	$ 36,217
Equity investments without readily determinable fair values	[1]	7,561	6,757
Xtract One warrants		5,951	6,995
Total investments		64,450	62,543
NRG
Schedule of Investments [Line Items]
Equity method investments		7,306	7,536
Other equity method investments
Schedule of Investments [Line Items]
Equity method investments		4,846	5,038
Xtract One Technologies Inc. (“Xtract One”) common stock
Schedule of Investments [Line Items]
Equity investments with readily determinable fair values		16,847	17,380
Other equity investments with readily determinable fair values held in trust under the Company’s Executive Deferred Compensation Plan
Schedule of Investments [Line Items]
Equity investments with readily determinable fair values		$ 21,939	$ 18,837
[1] For the three months ended September 30, 2024 and 2023, the Company did not record any impairment charges or changes in carrying value of its equity securities without readily determinable fair values in the accompanying consolidated statements of operations.

Investments - Narrative (Detail

Investments - Narrative (Details) - NRG - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Apr. 30, 2023
Schedule of Equity Method Investments [Line Items]
Ownership percentage	25%		25%	25%
Losses from equity method investments	$ 230	$ 415

Investments - Schedule of Cost

Investments - Schedule of Cost Basis and Carrying Value of Equity Investments with Readily Determinable Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Schedule of Equity Method Investments [Line Items]
Cost Basis	$ 25,868	$ 24,231
Equity securities with readily determinable fair values	38,786	36,217
Xtract One Technologies Inc. (“Xtract One”) common stock
Schedule of Equity Method Investments [Line Items]
Cost Basis	7,221	7,721
Equity securities with readily determinable fair values	16,847	17,380
Other equity investments with readily determinable fair values
Schedule of Equity Method Investments [Line Items]
Cost Basis	18,647	16,510
Equity securities with readily determinable fair values	$ 21,939	$ 18,837

Investments - Schedule of Reali

Investments - Schedule of Realized and Unrealized Gains (Losses) on Equity Investments with Readily Determinable Fair Values (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Schedule of Equity Method Investments [Line Items]
Gain (loss) on equity investments	$ 432	$ (6,657)
Xtract One Technologies Inc. (“Xtract One”) common stock
Schedule of Equity Method Investments [Line Items]
Unrealized gain (loss)	(533)	(6,553)
Other equity investments with readily determinable fair values
Schedule of Equity Method Investments [Line Items]
Unrealized gain (loss)	965	(130)
Realized gain - other equity investments with readily determinable fair values	$ 0	$ 26

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 94,326	$ 130,316
Level I | Money market accounts
Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets measured at fair value	22,523	37,594
Level I | Time deposits
Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets measured at fair value	27,066	49,510
Level I | Equity investments
Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets measured at fair value	38,786	36,217
Level 3 | Warrants
Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 5,951	$ 6,995

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Key Assumptions Used to Calculate the Fair Value of Warrants (Details) - Level 3	Sep. 30, 2024	Jun. 30, 2024
Expected term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding term	1 year 8 months 4 days	1 year 9 months 18 days
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0.6051	0.6415
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0.0377	0.0473

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Additional Information of Assets of Level III Inputs (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 6,995	$ 13,098
Unrealized losses on warrants	(1,044)	(5,418)
Balance at end of period	$ 5,951	$ 7,680

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Carrying Value and Fair Value of Debt (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Jun. 30, 2024
Carrying Value
Schedule Of Financial Instruments [Line Items]
Debt, current	[1]	$ 30,000	$ 30,000
Long-term debt	[2]	275,000	275,000
Fair Value
Schedule Of Financial Instruments [Line Items]
Debt, current	[1]	30,000	30,000
Long-term debt	[2]	$ 275,000	$ 275,000
[1] The Company’s debt, current is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar securities for which the inputs are readily observable. The fair value of the Company’s debt, current is the same as its carrying amount based on valuation of similar securities. See Note 12 for further details.

Debt - Knicks and Rangers Revol

Debt - Knicks and Rangers Revolving Credit Facilities (Narrative) (Details) - Secured Debt			3 Months Ended
	Jan. 25, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2024 USD ($) fiscal_quarter	Dec. 14, 2021 USD ($)
Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility amount outstanding			$ 275,000,000
Effective interest rate			6.22%
Interest payments			$ 4,793,000
Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility amount outstanding			0
Interest payments			$ 0
Knicks | 2016 Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 200,000,000
Debt instrument, term		5 years
Knicks | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 275,000,000
Debt instrument collateral			All obligations under the Knicks Revolving Credit Facility are secured by a first lien security interest in certain of Knicks LLC’s assets, including, but not limited to, (i) the Knicks LLC’s membership rights in the NBA, (ii) revenues to be paid to Knicks LLC by the NBA pursuant to certain U.S. national broadcast agreements, and (iii) revenues to be paid to Knicks LLC pursuant to local media contracts.
Subjective acceleration clause			Knicks LLC is required to make mandatory prepayments in certain circumstances, including without limitation if the maximum available amount under the Knicks Revolving Credit Facility is greater than 350% of qualified revenues.
Mandatory prepayment clause - qualified revenues reference threshold (percent)			350%
Restrictive covenants			The Knicks Revolving Credit Facility contains certain restrictions on the ability of Knicks LLC to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the Knicks Revolving Credit Facility, including the following: (i) incurring additional indebtedness and contingent liabilities; (ii) creating liens on certain assets; (iii) making restricted payments during the continuance of an event of default under the Knicks Revolving Credit Facility; (iv) engaging in sale and leaseback transactions; (v) merging or consolidating; and (vi) taking certain actions that would invalidate the secured lenders’ liens on any Knicks LLC’s collateral.
Debt service ratio			1.5
Debt service ratio, terms, number of trailing quarters | fiscal_quarter			4
Covenant compliance			Knicks LLC was in compliance with this financial covenant.
Knicks | Secured Overnight Financing Rate (SOFR) | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit spread adjustment			0.10%
Knicks | Minimum | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage			0.25%
Knicks | Minimum | Base Rate | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.25%
Knicks | Minimum | Secured Overnight Financing Rate (SOFR) | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.25%
Knicks | Maximum | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage			0.30%
Knicks | Maximum | Base Rate | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.50%
Knicks | Maximum | Secured Overnight Financing Rate (SOFR) | Knicks Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.50%
Rangers | 2017 Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 150,000,000
Debt instrument, term	5 years
Rangers | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 250,000,000
Debt instrument collateral			All obligations under the Rangers Revolving Credit Facility are, subject to the Rangers NHL Advance Agreement (as defined below), secured by a first lien security interest in certain of Rangers LLC’s assets, including, but not limited to, (i) Rangers LLC’s membership rights in the NHL, (ii) revenues to be paid to Rangers LLC by the NHL pursuant to certain U.S. and Canadian national broadcast agreements, and (iii) revenues to be paid to Rangers LLC pursuant to local media contracts.
Subjective acceleration clause			Rangers LLC is required to make mandatory prepayments in certain circumstances, including without limitation if qualified revenues are less than 17% of the maximum available amount under the Rangers Credit Agreement.
Restrictive covenants			The Rangers Revolving Credit Facility contains certain restrictions on the ability of Rangers LLC to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the Rangers Revolving Credit Facility, including the following: (i) incurring additional indebtedness and contingent liabilities; (ii) creating liens on certain assets; (iii) making restricted payments during the continuance of an event of default under the Rangers Revolving Credit Facility; (iv) engaging in sale and leaseback transactions; (v) merging or consolidating; and (vi) taking certain actions that would invalidate the secured lenders’ liens on any of Rangers LLC’s assets securing the obligations under the Rangers Revolving Credit Facility.The Rangers Credit Agreement includes an event of default that is implicated by a bankruptcy or insolvency event with respect to a material media rights counterparty, including MSG Networks.
Debt service ratio			1.5
Debt service ratio, terms, number of trailing quarters | fiscal_quarter			4
Covenant compliance			Rangers LLC was in compliance with this financial covenant
Rangers | Secured Overnight Financing Rate (SOFR) | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit spread adjustment			0.10%
Rangers | Minimum | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage			0.375%
Rangers | Minimum | Base Rate | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.50%
Rangers | Minimum | Secured Overnight Financing Rate (SOFR) | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.50%
Rangers | Maximum | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage			0.625%
Qualified revenues threshold, percentage of available credit facility			17%
Rangers | Maximum | Base Rate | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			1%
Rangers | Maximum | Secured Overnight Financing Rate (SOFR) | Rangers Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			2%

Debt - Rangers NHL Advance Agre

Debt - Rangers NHL Advance Agreement (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 19, 2021
Short-Term Debt [Line Items]
Debt	$ 30,000	$ 30,000
Secured Debt | Rangers | 2021 Rangers NHL Advance
Short-Term Debt [Line Items]
Maximum capacity			$ 30,000
Fixed interest rate	3%
Short-term debt, terms	Advances received under the Rangers NHL Advance Agreement are payable upon demand by the NHL.
Debt	$ 30,000
Interest payments	$ 225

Debt - Schedule of Deferred Fin

Debt - Schedule of Deferred Financing Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Other current assets
Debt Instrument [Line Items]
Debt issuance costs, net	$ 1,145	$ 1,145
Other assets
Debt Instrument [Line Items]
Debt issuance costs, net	$ 1,379	$ 1,665

Benefit Plans - Schedule of Net

Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 63	$ 68
Recognized actuarial loss	20	9
Net periodic benefit cost	$ 83	$ 77

Benefit Plans - Narrative (Deta

Benefit Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Defined Contribution Plan and Executive Deferred Compensation Plan Disclosures [Line Items]
Deferred compensation arrangement with individual, compensation expense / (compensation cost credits)	$ 965	$ (104)
Gains/(losses) recorded for the remeasurement of fair value of assets under the deferred compensation plan	965	(104)
Savings Plans
Defined Contribution Plan and Executive Deferred Compensation Plan Disclosures [Line Items]
Savings plan expense	$ 1,283	$ 1,294

Benefit Plans - Schedule of Def

Benefit Plans - Schedule of Deferred Compensation Plan (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Retirement Benefits [Abstract]
Non-current assets (included in investments)	$ 21,939	$ 18,837
Current liabilities (included in accrued employee related costs)	(1,318)	(1,233)
Non-current liabilities (included in other employee related costs)	$ (20,621)	$ (17,604)

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	$ 4,268,000	$ 4,149,000
Share-based compensation capitalized in property and equipment	$ 0	$ 0

Share-based Compensation - Sche

Share-based Compensation - Schedule of RSU and PSU Activity (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands		3 Months Ended
		Sep. 30, 2024		Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested award, beginning balance (USD per share)	[1]	$ 170.61
Granted (USD per share)		205.31	[1]	$ 178.45
Vested (USD per share)	[1]	164.24
Forfeited / Cancelled (USD per share)	[1]	170.43
Unvested award, ending balance (USD per share)	[1]	$ 186.26
Nonperformance Based Vesting RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested award, beginning balance (in shares)		105
Granted (in shares)		43
Vested (in shares)		(44)
Forfeited / Cancelled (in shares)		(1)
Unvested award, ending balance (in shares)		103
Performance Based Vesting RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested award, beginning balance (in shares)		153
Granted (in shares)		46
Vested (in shares)		(59)
Forfeited / Cancelled (in shares)		(2)
Unvested award, ending balance (in shares)		138
[1] Weighted-average fair value per share at date of grant does not reflect any adjustments to awards granted prior to the Sphere Distribution.

Share-based Compensation - Rest

Share-based Compensation - Restricted Stock Units Award Activity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2024		Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment for tax withholding	$ 9,062		$ 6,633
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Instruments vested in period	$ 21,227		$ 16,637
Shares withheld for tax withholding obligation, value (shares)	39
Payment for tax withholding	$ 7,951
Granted (USD per share)	$ 205.31	[1]	$ 178.45
Restricted Stock Units (RSUs) | Related Party
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment for tax withholding	$ 24
[1] Weighted-average fair value per share at date of grant does not reflect any adjustments to awards granted prior to the Sphere Distribution.

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Stock Options Award Activity (Details) - Non-Performance Vesting $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance (in shares) | shares	94
Granted (in shares) | shares	0
Cancelled (in shares) | shares	0
Ending balance (in shares) | shares	94
Exercisable (in shares) | shares	94
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance (USD per share) | $ / shares	$ 138.78
Granted (USD per share) | $ / shares	0
Cancelled (USD per share) | $ / shares	0
Ending balance (USD per share) | $ / shares	138.78
Exercisable (USD per share) | $ / shares	$ 138.78
Weighted average remaining contractual term	3 years 2 months 15 days
Exercisable, weighted-average remaining contractual term	3 years 2 months 15 days
Aggregate intrinsic value | $	$ 6,519
Exercisable, aggregate intrinsic value | $	$ 6,519

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Oct. 01, 2015
Stock Repurchase Program [Abstract]
Stock repurchase program, authorized amount			$ 525,000
Repurchases of common stock (in shares)	0	0
Stock repurchase program, remaining authorized amount	$ 184,639

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	3 Months Ended
	Sep. 30, 2024
Related Party Transaction [Line Items]
Aggregate voting power held by related party (as a percent)	70.90%
Arena License Agreements | MSG Entertainment
Related Party Transaction [Line Items]
License agreement term	35 years
Related party transaction, percentage of net profits from sales and catering services (as a percent)	50%
Sponsorship Sales and Service Representation Agreements | MSG Entertainment
Related Party Transaction [Line Items]
License agreement term	10 years
Media rights | MSG Networks
Related Party Transaction [Line Items]
License agreement term	20 years
Class B Common Stock
Related Party Transaction [Line Items]
Percentage of common stock owned by related party (as a percent)	100%
Class A Common Stock
Related Party Transaction [Line Items]
Percentage of common stock owned by related party (as a percent)	3%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Revenues	[1]	$ 53,307	$ 43,046
Related Party
Related Party Transaction [Line Items]
Revenues	[2]	8,904	8,817
Expense pursuant to the Services Agreement		8,477	9,887
Rent expense pursuant to Sublease Agreement		894	750
Costs associated with the Sponsorship sales and service representation agreements		2,612	2,601
Operating lease expense associated with the Arena License Agreements		1,311	1,311
Other costs associated with the Arena License Agreements		1,013	804
Other operating credits, net		$ (150)	$ (612)
[1] Includes revenues from related parties of $8,904 and $8,817 for the three months ended September 30, 2024 and 2023, respectively. Primarily consist of local media rights recognized from the licensing of team-related programming under the media rights agreements covering the Knicks and the Rangers.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Federal statutory income tax rate (as a percent)	21%	21%
Income tax benefit	$ 7,048	$ 15,144
Effective income tax rate (as a percent)	48%	45%
Income taxes paid, net	$ 10,280