MSG Rangers Corp/$MSGR
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Capital at risk
About MSG Rangers Corp
MSG Rangers Corp owns and operates the New York Rangers of the National Hockey League (NHL) and the Hartford Wolf Pack of the American Hockey League (AHL). It also operates the Madison Square Garden Training Center in Greenburgh, New York, which serves as a sports team performance and training facility. It earns revenue from several primary sources: ticket sales and a portion of suite rental fees at The Garden, a share of distributions from NHL league-wide national and international media contracts and other league-wide revenue sources, sponsorships and signage, food and beverage sales at The Garden and merchandising.
- Ticker
- $MSGR
- Sector
- Consumer Discretionary
- Primary listing
- NYSE
- Employees
- -
- Headquarters
- New York, United States
- Website
- www.nhl.com
MSG Rangers Corp Metrics
BasicAdvanced
$2.6B
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Price and volume
Market cap
$2.6B
52-week high
$218.50
52-week low
$176.00
Financial strength
Profitability
Management effectiveness
Valuation
Growth
Bulls say / Bears say
The spin-off gives investors a separately traded claim on the Rangers, which could make the team’s value easier to assess. Fortune noted that the split may improve visibility into each franchise’s worth, while Sportico estimated the Rangers at $4.15bn. (Fortune, Stock Titan)
At 30 June 2026, the Rangers’ $250m revolving credit facility was undrawn and funded debt was $16.5m, leaving borrowing capacity to help meet cash needs. This gives the newly standalone business some financial flexibility, although further borrowing would add debt. (SEC)
The Rangers generated $337.3m of revenue in FY2026 despite missing the playoffs, demonstrating substantial commercial scale beyond post-season games. Revenue was also slightly higher than the $332m recorded in FY2025. (SEC)
The business has a weak recent earnings record: it posted operating losses of $30.5m in FY2026 and $23.3m in FY2025. The filing says it is unlikely to be profitable in the near term without an extended playoff run. (SEC)
Local media revenue faces a structural headwind: the Rangers’ rights fee was cut by 18%, its annual increase was removed, and the agreement runs only through the 2028–29 season. The company also warns that further reductions, including from a possible MSG Networks bankruptcy, could materially hurt results. (SEC)
MSG Rangers does not own Madison Square Garden and depends on its arena licence to play there. The filing warns that failure to renew the licence, or problems with MSG Entertainment’s performance under it, could materially damage the business. (SEC)
Data summarised monthly by Lightyear AI. Last updated on 28 Oct 2026.
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Funds containing MSG Rangers Corp
Fund name | Fund size | $MSGR weighting |
|---|---|---|
iShares S&P SmallCap 600$IDP6 | $3.2B | 0.11% |
iShares S&P Small Cap 600£ISP6 | $3.2B | 0.11% |
iShares MSCI World Small Cap£WLDS | $9B | 0.02% |
iShares MSCI World Small Cap$WSML | $9B | 0.02% |
iShares MSCI World Small Cap€IUSN | $9B | 0.02% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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