Franchise Valuation FloorUpdated Forbes franchise valuations act as a private-market valuation floor that could support a higher asset-based company valuation if independent team appraisals sustain elevated values.
Minority Stake Sale CatalystA minority sale of a franchise stake, which becomes more likely with a deep Knicks postseason run, could materially narrow the valuation discount and raise the company's public equity value.
Per-game Revenue StrengthPer-game food and beverage, suite, and sponsorship revenues exceeded expectations and bolster revenue and operating income prospects as premium demand at Madison Square Garden remains strong.