---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-094760"
form_type: "8-K"
ticker: "MSGS"
cik: "0001636519"
company_name: "Madison Square Garden Sports Corp."
filed_at: "2025-04-25T23:59:59+00:00"
generated_at: "2026-05-23T05:52:47.378125+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MSG Sports cuts Knicks/Rangers media rights fees 28%/18% as part of MSGN debt restructuring

## Summary
- Knicks annual rights fee reduced 28%, Rangers reduced 18%; escalator eliminated; contracts extended to 2028-29 season.
- MSG Networks to issue penny warrants to MSGS for 19.9% equity interests in MSGN.
- Transactions expected to close by June 27, 2025, pending definitive documentation.
- Amendments facilitate MSGN debt work-out; ensure continued game telecasts on MSG Networks.

## SEC filing metadata
- accession: 0001193125-25-094760
- form_type: 8-K
- ticker: MSGS
- cik: 0001636519
- company_name: Madison Square Garden Sports Corp.
- filed_at: 2025-04-25T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636519/000119312525094760/0001193125-25-094760-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636519/000119312525094760/d18876d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-094760
- JSON: https://secwatch.observer/filing/0001193125-25-094760.json
- Plain text: https://secwatch.observer/filing/0001193125-25-094760.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.