The Knicks’ impressive playoff journey coincides with a significant surge in the stock price of Madison Square Garden Sports, the company behind the team. It’s fascinating, really—the stock has more than doubled over the last year, and you can feel the buzz both on Wall Street and among the fans as the team progresses toward the NBA Finals.
On Thursday, after the Knicks secured a 105-95 win against the San Antonio Spurs in Game 1, Madison Square Garden Sports saw its stock reach an all-time high of $390.12 per share.
The stock continued to climb, rising 1.4% on Monday in anticipation of Game 3, reaching an intra-day peak of $391.79. It’s impressive to note that the stock has risen 103% in the past year, bringing the company’s market cap to around $9.3 billion.
Investor Joe Pompliano pointed out on Twitter that everyone’s buzzing about the steep ticket prices—reportedly over $10,000 for the Finals—but fewer are discussing how the Knicks’ publicly traded stock has outperformed nearly all others except for AI-driven stocks last year.
MSGS hasn’t commented on this yet, but the resale ticket prices being through the roof kind of speaks for itself. It’s wild to think the Knicks, who had been without a title for more than fifty years, have taken a 2-0 lead in the NBA Finals. Star-studded watch parties have even led to some chaotic moments. Celebrities like Timothée Chalamet and Ben Stiller were spotted courtside, and Word is that President Trump and Mayor Zoran Mamdani will be there for Game 3.
What’s more intriguing is the substantial boost in the team’s stock price, which has generated billions for investors after languishing for years under what’s often called the “Dolan discount.”
There’s a sense of optimism among analysts, suggesting that this stock rally might still have legs. As fan interest in the stock grows, the Knicks are anticipated to rake in significant revenue from home games.
“Watching the Knicks thrive on the court is wonderful,” said Christopher Marangi, president of Gabelli Funds, a key investor in MSGS. “But honestly, seeing shareholders benefit is even more gratifying.”
The most notable spike in MSGS stock happened earlier this year when they proposed to split the Knicks and Rangers into distinct publicly traded entities. Analysts speculate this move could unlock significant franchise value.
As the Knicks keep winning, their stock price just keeps climbing, and fans are celebrating their team’s return to the Finals for the first time in 27 years.
Ken Mahoney, CEO of Mahoney Asset Management, remarked that while the playoffs definitely triggered this excitement, the larger market seems to be reassessing the value of these sports franchises at the same time.
He pointed out that such professional teams aren’t readily available, and with the Knicks gearing up for a championship, investors are placing a premium on such an iconic franchise, especially in light of the proposed Knicks-Rangers split.
However, some investors are being a bit more cautious. Kenin Spivak, CEO of SMI Group, highlighted that sports franchises aren’t valued based on conventional metrics, and many retail investors have benefited from what is often viewed as a “trophy” valuation. He cautioned against making assumptions that these value surges will persist.
A home game during the Eastern Conference Finals could bring in around $20 million for the company, and NBA Finals matchups will likely yield even greater financial influx.
While it’s likely that the higher-end tickets, priced over $10,000, will get snapped up by resellers, Mahoney mentioned that the Knicks are still enjoying robust revenue from merchandise and other avenues.
Another financial boon came from team captain and star point guard Jalen Brunson. His recent contract was seen as quite affordable—he reportedly left over $100 million on the table when he inked a four-year deal worth just under $40 million annually. This move has allowed the Knicks to enhance their roster.
“In relative terms, you could call it a bargain considering all he’s done for the team,” said Jonathan Boyer, president of Boyer Value Group and an MSGS investor.
