“Why Madison Square Garden Sports (MSGS) Is Severely Undervalued”
MSGS is undervalued; its $10B implied valuation for two major sports franchises is significantly below recent market comps ($12B for Lakers, $3B for Islanders minority).
Yes, MSGS was a long-term investment for you. Yes, MSGS stock was great for us. Let me give you a quick background on it . Originally, it was part of a company called Cablevision, which was controlled by the Dolan family.
Everyone loves to hate the Dolan family, but they split up MSG in 2010, which consisted of Madison Square Garden. I will take another step back. They bought MSG in 1992 or 1993 for a few hundred million dollars.