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Wall Street High On MSG Sports Despite Company Losing Money

“MSGS CEO, Jamie Lustgarten, portrayed a confident stance that the worst of the pandemic’s financial impact is behind the company.”

Russ Heltman

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Courtesy: MSG

The past year has been tough for Madison Square Garden Sports, but Wall Street analysts are confident the future is bright. The New York Knicks and New York Rangers parent company amassed $415.7 million in revenues for the fiscal year ending in June. That mark caused them to operate at a loss of $78.4 million.

It wasn’t all bad news as their final quarter of fiscal revenues came in at $146.9 million, a big jump from negative $7 million in the same quarter the year before. According to the report, “higher league distributions, local media rights fees from MSG Networks, sponsorships and signage revenues,” drove the increase.

MSG Sports CEO, Jamie Lustgarten, portrayed a confident stance that the worst of the pandemic’s financial impact is behind the company. 

“We are not completely out of the woods, but we are confident,” Lustgarten said on the earnings call. “New York has the highest vaccination rates, and our fans are comfortable attending games with vaccination mandates,” he added. “The company expects all their 82 games to take place in full capacity.”

Lustgarten recognizes the impact of sports betting on the current sports media climate and welcomes gambling’s ability to strengthen fan bases.

“We love sports betting for what it does for fan engagement,” he said. “It is great for the consumer experience, sponsorship value, and marketing.”

On Wall Street, analysts are scratching their heads as to why the company is trading lower than the valuations of their sports franchises would indicate. They estimate MSGS is trading at a “38% discount to the private market value of its marquee franchises.”

Lightshed Partners Brandon Ross discussed the numbers over the phone with Sportico.

“I don’t think anyone can argue with the fact that MSG Sports own the premier sports franchises,” Ross told Sportico. “The biggest risk facing the future of sports teams is the ability to get high valuations on their media rights. And it so happens that both the Knicks and Rangers, are locked into very long-term local sports rights deals. And there’s still some time left on national sports rights deals.”

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Sports TV News

‘NFL Total Access’ Comes to an End After 21 Years on NFL Network

“Today is our last show and while our team is disappointed, we are excited about what’s next for us at NFL Network.”

Barrett Sports Media

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‘NFL Total Access’ has been a part of the NFL Network since 2003 and today it is set for its final episode. The news of the show coming to an end came down earlier this month. Many of the current show participants took to social media to post their thoughts including hosts Mike Yam and Kimmi Chex along with analyst Chase Daniel.

“Tonight marks the last ever episode of NFL Total Access,” said Chex. “I was 7 years old when this show aired meaning that I spent my life watching. Co-hosting our flagship program this past season has been the honor of my career. I’m not going anywhere but for now, it’s goodbye TA.”

Yam said, “It’s been an absolute thrill hosting NFL Total Access. Today is our last show and while our team is disappointed, we are excited about what’s next for us at NFL Network. “Thank you” isn’t nearly enough to express the gratitude I have for the team. See you at 7est for 1 more run.”

A report from The Athletic said the show would be replaced “at least in the interim” by Insiders with Ian Rapoport, Mike Garafolo and Tom Pelissero.

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NBCUniversal Names Olympic Hosts for USA, CNBC and E!; Kathryn Tappen Headlines

“We are excited to have an experienced group of hosts to present the most compelling stories, news, and interviews as we take viewers from event to event throughout the Games.”

Barrett Sports Media

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NBC Olympics Logo and photos of Cara Banks, Laura Britt, Trenni Casey, Lindsay Czarniak, Carolyn Manno, and Kathryn Tappen

NBCUniversal announced its hosts for coverage of the Olympic Games Paris 2024 on USA Network, CNBC and E! Cara Banks, Laura Britt and Trenni Casey will all be a part of the coverage on CNBC and E! Lindsay Czarniak, Carolyn Manno and Kathryn Tappen will all take part in the USA Network coverage.

The Opening Ceremony of the 2024 Paris Olympics is Friday, July 26 on NBC, Peacock, and Telemundo.

Coverage on USA Network, CNBC, and E! is expected to include Team USA men’s and women’s basketball, soccer, and volleyball, as well as swimming, gymnastics, and track & field, and more.

“We are excited to have an experienced group of hosts to present the most compelling stories, news, and interviews as we take viewers from event to event throughout the Games,” said Rebecca Chatman, Vice President and Coordinating Producer, NBC Olympics Production in a release.

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Mike Tirico, Danica Patrick Return to Host Indy 500 for NBC Sports

Seven-time NASCAR Series champion Jimmie Johnson will join NBC’s pre-race and race coverage. When his broadcasting duties are completed, Johnson will be flying to Charlotte Motor Speedway to drive in the NASCAR Coca-Cola 600.

Barrett Sports Media

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Logos for Indy 500, NBC Sports and photos of Mike Tirico and Danica Patrick
Photos Courtesy: NBC Sports

With less than two weeks until the event, NBC Sports has officially announced its team of race and studio commentators for the 108th Running of the Indianapolis 500. For the sixth year in a row, we can expect to see familiar faces such as host Mike Tirico and studio analyst Danica Patrick contributing to pre-race, in-race, and post-race coverage.

The race will air at 11 a.m. ET on Sunday, May 26, on both NBC and Peacock.

Seven-time NASCAR Series champion Jimmie Johnson will join NBC’s pre-race and race coverage. When his broadcasting duties are completed, Johnson will be flying to Charlotte Motor Speedway to drive in the NASCAR Coca-Cola 600.

Leigh Diffey, Townsend Bell and James Hinchcliffe will call the race for the sixth consecutive year. Marty Snider, Dillon Welch, Dave Burns, and Kevin Lee will serve as pit reporters. Former NASCAR driver Jeff Burton and Kim Coon will serve as roaming reporters.

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