Benefit Plans

9 Months Ended

Mar. 31, 2025

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Benefit Plans

Benefit Plans

Defined Benefit Pension Plans

The Company sponsors the MSG Sports, LLC Excess Cash Balance Plan (the “Excess Cash Balance Plan”), an unfunded non-contributory, non-qualified excess cash balance plan and the MSG Sports, LLC Excess Retirement Plan, an unfunded non-contributory, non-qualified defined benefit pension plan for the benefit of certain employees (collectively referred to as the “Pension Plans”). All benefits in the Company’s Pension Plans are frozen and participants are not able to earn benefits for future service under these plans, and no employee of the Company who was not already a participant as of the date the respective plan was frozen may become a participant in the Pension Plans. Existing account balances under the Excess Cash Balance Plan are credited with monthly interest in accordance with the terms of the plan.

The following table presents components of net periodic benefit cost for the Pension Plans included in the accompanying consolidated statements of operations for the three and nine months ended March 31, 2025 and 2024. Components of net periodic benefit cost are reported in Miscellaneous expense, net:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2025		2024		2025		2024
Interest cost	$	63	$	68	$	189	$	204
Recognized actuarial loss	21		10		61		28
Net periodic benefit cost	$	84	$	78	$	250	$	232

Defined Contribution Plans

MSG Sports employees participate in The Madison Square Garden 401(k) Savings Plan (the “401(k) Plan”), which is a multiple employer plan sponsored by MSG Entertainment Holdings, LLC, a wholly owned subsidiary of MSG Entertainment. In addition, the Company sponsors the MSG Sports LLC, Excess Savings Plan (the “Excess Savings Plan”), which provides non-qualified retirement benefits to eligible MSG Sports employees.

Expense related to the 401(k) Plan and Excess Savings Plan for the three and nine months ended March 31, 2025 was $1,500 and $4,027, respectively, and $1,261 and $3,869 for the three and nine months ended March 31, 2024, respectively.

Executive Deferred Compensation Plan

See Note 14 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024 for more information regarding the Company’s Executive Deferred Compensation Plan (the “Deferred Compensation Plan”).

The Company recorded (compensation cost credits)/compensation expense of $(134) and $973 for the three and nine months ended March 31, 2025, respectively, and $821 and $1,556 for the three and nine months ended March 31, 2024, respectively, within Selling, general and administrative expenses to reflect the remeasurement of the Deferred Compensation Plan liability. In addition, the Company recorded (losses)/gains of $(134) and $973 for the three and nine months ended March 31, 2025, respectively, and $821 and $1,556 for the three and nine months ended March 31, 2024, respectively, within Miscellaneous expense, net to reflect the remeasurement of the fair value of assets under the Deferred Compensation Plan.

The following table summarizes amounts recognized related to the Deferred Compensation Plan in the consolidated balance sheets:

	March 31, 2025		June 30, 2024
Non-current assets (included in investments)	$	21,773	$	18,837
Current liabilities (included in accrued employee related costs)	(1,226)		(1,233)
Non-current liabilities (included in other employee related costs)	(20,547)		(17,604)