Bob Iger and Josh Kushner stunned the sports world Tuesday with their $12.5 billion agreement to buy the Los Angeles Lakers from Mark Walter, and in so doing, they gave an immediate boost to the NBA champion New York Knicks.
The Lakers agreement helped trigger a 5.3% gain in shares of Madison Square Garden Sports, which owns the Knicks and the NHL’s Rangers.
MSGS stock is up again today after the company published record financial results, fueled by the Knicks’ first NBA championship in 53 years. Revenue was $1.15 billion for the fiscal year ending June 30—11% higher than the previous year’s record tally.
Fourth-quarter revenue rose $75 million, or 37%, driven primarily by higher playoff revenue, versus the Knicks’ Eastern Conference appearance in 2025; the Rangers missed the playoffs both seasons. Playoff-related revenue accounted for $67 million of the gain, despite one fewer home game, as the Knicks swept their second- and third-round playoff series. But NBA Finals pricing and the frenzy around the title run pushed results much higher.
Revenues from league distributions increased $7.2 million from the prior year, primarily driven by the NBA’s new national media package. Local media rights fell $3.5 million due to a reduction in rights fees from the amendments to the Knicks’ and Rangers’ local agreements with MSG Networks.
