Knicks parent company announced financial report, revenue of US$1.039 billion, profit fell from RMB146 million to RMB148 million

August 12th, the Knicks parent company MSG Sports recently released its annual report for the previous fiscal year (ends on June 30 this year). In this fiscal year, the company's revenue was US$1.039 billion, up 1% from the previous fiscal year; operating profit fell sharply to US$14.8 million, compared with US$146 million in the previous fiscal year.

MSG Sports pointed out in its financial report that the company's highlights this year include the Knicks' reaching the Eastern Conference Finals and the Knicks' nine playoff games at Madison Square Garden. During the year, ticket revenue, sponsorship revenue and box revenue per game have increased, but local TV broadcast rights revenue has declined and investment in its teams has increased, which has affected the company's profitability. MSG Sports CEO James Dolan said: "The highlight of the fiscal year 2025 is the growth in revenue per game and the Knicks' reaching the Eastern Conference Finals."

"This also reflects our investment in the team and changes in the local media environment. Looking ahead, we expect the market to still have strong demand for the Knicks and Rangers, and we still have confidence in having these two professional teams."

In addition to the Knicks, MSG Sports also has another professional team, the New York Rangers of the North American Hockey League (NHL).