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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.”

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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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Warriors Fans Throw Objects At Charles Barkley On Inside the NBA Set

“Barkley yelled back at the crowd but never actually left the set.”

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TNT/Larry Brown Sports

Charles Barkley is no stranger to being the object of fans’ ire. The cities of San Antonio and Cleveland have a history of being the butt of the Round Mound of Rebound’s jokes. Thursday night in San Francisco, fans of the Warriors took things to a different level, throwing objects at Barkley on the Inside the NBA set.

The TNT studio show was broadcasting live from outside the Chase Center. The crowd chanted “Chuck, you suck!” at Barkley before the game. After Golden State clinched a birth in the NBA Finals, things got physical.

Fans threw things at the set, including a rolled-up t-shirt, which hit Charles Barkley in the back of the head. That resulted in Barkley leaving his seat and bowing up to the audience.

“Come on Chuck!” Ernie Johnson pleaded as Kenny Smith repeatedly said “Sit down Chuck.”

Barkley yelled back at the crowd but never actually left the set.

Now that the Western Conference Finals are over, TNT’s NBA schedule has concluded. That doesn’t mean Charles Barkley won’t return to San Francisco for the NBA Finals, but it is highly unlikely given the reception he has received there.

Barkley spent most of the postseason telling Golden State fans they were annoying and need to shut up and saying the city of San Francisco has “dirty ass streets”.

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Jon Miller To Call MLB Sunday Leadoff Game On Peacock

“According to a press release, Jason Benetti has a scheduling conflict.”

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Rich Eisen Show

Legendary play-by-play man Jon Miller will be returning to the national broadcast booth on Sunday. He will call the San Francisco Giants vs. Cincinnati Reds game for Peacock. He’ll be joined in the booth by Barry Larkin and Shawn Estes.

According to a press release, Jason Benetti has a scheduling conflict. Benetti, the regular play-by-play voice of Peacock’s MLB Sunday Leadoff, is also the television voice of the Chicago White Sox. NBC Sports Chicago has prioritized this weekend’s series between the White Sox and Cubs, making Benetti unavailable to the national broadcast.

Miller has been calling Giants games since 1997 and previously shared the Sunday Night Baseball booth on ESPN with hall of famer Joe Morgan.

The broadcast, called MLB Sunday Leadoff, will begin at 11 a.m. with pregame coverage hosted by Ahmed Fareed. The game broadcast begins at 11:30 a.m.

The game will take place in an exclusive two-hour broadcast window prior to the start of the rest of the league’s day of games.

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Amazon Eyeing Pat McAfee For Thursday Night Football Megacast

“No deal is done yet. A source tells McCarthy that it hinges on McAfee’s very busy schedule, but a Megacast is appealing to the former punter.’

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First it was the Mannings. Now it’s McAfee. Michael McCarthy of Front Office Sports reports that Pat McAfee could be at the center of an alternate broadcast of Thursday Night Football on Amazon in the 2022 season.

No deal is done yet. A source tells McCarthy that it hinges on McAfee’s very busy schedule, but a Megacast is appealing to the former punter.

Rumors of Amazon’s interest in McAfee began to bubble up last month. While he never directly addressed them, he did make mention on his show that he was “up to something” and insinuated that Amazon wasn’t the only company he was talking to.

McAfee has said on his show in the past that he wants to be part of an NFL broadcast. However, he is firm in that it would not be in the broadcast booth.

“I can’t call games. Not yet,” McAfee said on a show in February. “Have to be done with this show to call games. Because that’s like a 3-day, 4-day thing.” 

In addition to his daily show, McAfee is also committed to the WWE. He is on the road for Smackdown every Friday.

There is no word on exactly what a Pat McAfee-centered broadcast would look like. When reports first came out regarding discussions with McAfee, Ryan Glasspiegel of The New York Post reported that moving The Pat McAfee Show to Amazon was on the table. If that happens, it would make sense to use his entire crew on the Thursday Night Football presentation.

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