---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-039767"
form_type: "8-K"
ticker: "MSGS"
cik: "0001636519"
company_name: "Madison Square Garden Sports Corp."
filed_at: "2025-08-12T23:59:59+00:00"
generated_at: "2026-05-17T14:36:32.808565+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MSGS reports fiscal Q4 operating loss of $22.6M; full-year adjusted OI down 78%

## Summary
- Full-year revenue $1.039B (+1% YoY); operating income $14.8M (down 90% from $146M).
- Q4 revenue $204M (-10% YoY); operating loss $22.6M vs prior-year income $52.3M.
- Full-year adjusted operating income $38.2M, down 78% from $172.2M.
- Per-game ticket, sponsorship and suite revenue grew; local media rights fees declined under amended MSG Networks agreements.
- CEO cites continued demand for Knicks/Rangers and confidence in franchise value despite current investment phase.

## SEC filing metadata
- accession: 0001628280-25-039767
- form_type: 8-K
- ticker: MSGS
- cik: 0001636519
- company_name: Madison Square Garden Sports Corp.
- filed_at: 2025-08-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636519/000162828025039767/0001628280-25-039767-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636519/000162828025039767/msgs-20250812.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-039767
- JSON: https://secwatch.observer/filing/0001628280-25-039767.json
- Plain text: https://secwatch.observer/filing/0001628280-25-039767.txt

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