v3.26.3
Segment Information
 3 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates and presents financial information in one operating and reportable segment. The Company’s CODM is its Executive Chairman and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net income (loss) to assess financial performance and allocate resources. As a single segment entity,
consolidated net income (loss) is used to assess financial performance, allocate resources, and make key operating decisions, such as entering into significant contracts, setting strategic objectives for the Company, and approving annual operating budgets, including approving significant investments in team personnel, and other key executive leadership positions. The CODM does not review segment assets at a different asset level or category than those disclosed in the accompanying consolidated balance sheets.
The following table presents selected financial information with respect to the Company’s single operating segment for the three months ended September 30, 2026 and 2025:
Three Months Ended September 30,
20262025
Revenues
$45,489 $39,454 
Significant segment expenses:
Ticketing and sponsorship sales related expenses (a)
(8,810)(8,178)
Marketing & event-related expenses (b)
(7,671)(8,922)
Corporate & administrative (c)
(29,899)(26,395)
Operating lease expenses and other rental expenses associated with the Arena License Agreements (d)
(1,346)(1,345)
Team operating expenses (e)
(14,593)(13,009)
Depreciation and amortization(781)(811)
Restructuring charges(579)— 
Interest income473 578 
Interest expense(4,699)(5,591)
Miscellaneous (expense) income, net(3,663)15,085 
Income tax benefit2,209 8,555 
Other segment items (f)
(7,267)(8,219)
Net loss$(31,137)$(8,798)
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(a)Ticketing and sponsorship sales related expenses consist of (i) expenses related to selling tickets to our sports teams’ home games and primarily include employee compensation and related benefits, credit card fees, and other general and administrative expenses, and (ii) fees related to the Company’s Sponsorship Sales and Service Representation Agreements and sponsorship fulfillment costs. See Note 16 for further details related to the Sponsorship Sales and Service Representation Agreements.
(b)Marketing & event-related expenses primarily relate to marketing and production expenses and services provided to the Company by MSG Entertainment pursuant to the Arena License Agreements.
(c)Corporate & administrative expenses include certain selling, general and administrative costs.
(d)Operating lease expenses and other rental expenses associated with the Arena License Agreements primarily consist of operating lease costs, commercial rent tax, and other expenses associated with the Arena License Agreements. See Note 16 for further details related to the Arena License Agreements.
(e)Team operating expenses primarily consist of team personnel compensation (net of escrow), NBA luxury tax, expenses associated with day-to-day team operations, including for travel, player insurance, and operating costs of the Company’s training center in Greenburgh, NY.
(f)Other segment items primarily consist of net provisions for league revenue sharing expense (excluding playoffs), league assessments, playoff related expenses, cost of goods sold and commission expense related to merchandise revenues, and share-based compensation expense.