Jun. 23 at 5:37 PM
So
$MSGS has an Enterprise Value of
$5.97 Billion, the cost to take out the whole capital stack, backing out cash. The #Lakers just sold for a valuation of
$10 Billion. Retiring hedge fund billionaires and Casino titan widows are looking for legacy defining assets. MSGS owns the #Knicks and #Rangers [Hockey]. Knicks were great this year too, generating over
$500 M in revenue. This seems at least 60% undervalued. What am I missing here? Full disclosure, have been buying this morning. I figured what's the worst that could happen, it doesn't pan out and I'm stuck in a partial ownership of two of the best NYC sports franchises.
$SPY