Madison Square Garden Sports (MSGS) Stock Hits All-Time High on $12.5 Billion Lakers Deal

TLDR

• Madison Square Garden Sports $MSGS closed up 5.25% at $414.12, a new all-time closing high, after reports of a $12.5 billion majority stake sale of the LA Lakers.
• The buyers are former Disney CEO Bob Iger and venture capitalist Joshua Kushner, purchasing from Guggenheim Partners CEO Mark Walter.
• $MSGS is up 60% this year and 113% over the past 12 months, driven by rising NBA valuations.
• The company reports fiscal Q4 earnings Thursday, with analysts expecting EPS of $0.54 on revenue of $196.3 million.
• A Knicks or Rangers sale remains unlikely due to opposition from CEO James Dolan, who controls the company through supervoting stock.

Madison Square Garden Sports $MSGS closed at $414.12 on Wednesday, up 5.25%, after reports emerged that a group led by former Walt Disney CEO Bob Iger and venture capitalist Joshua Kushner plans to buy a majority stake in the Los Angeles Lakers at a valuation of around $12.5 billion. That’s the stock’s highest ever closing price, and the biggest single-day percentage gain since February 18.

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