MSG Knickerbockers reports Q1 2027 results

Item 2.02 Results of Operations and Financial Condition.

On November 6, 2026, MSG Knickerbockers Corp. (the "Company") announced its financial results for its first quarter ended September 30, 2026. A copy of the press release containing the announcement is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.¹

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated Novemb er 6 , 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MSG KNICKERBOCKERS CORP.

(Registrant)

By: /s/ Paul DiCicco

Name: Paul DiCicco

Title: Executive Vice President,

Chief Financial Officer and Treasurer

Dated: November 6, 2026

MSG KNICKERBOCKERS CORP. REPORTS FISCAL 2027 FIRST QUARTER RESULTS

NEW YORK, N.Y., November 6, 2026 - MSG Knickerbockers Corp. (NYSE: MSGK) ("MSG Knicks" or the "Company") today reported financial results for the fiscal first quarter ended September 30, 2026.

On October 26, 2026, the Company completed the spin-off of its New York Rangers ("Rangers") business. As a result of the timing of the spin-off, the Company's fiscal 2027 first quarter consolidated results include the financial results of the Rangers business.

For the fiscal 2027 first quarter, the Company generated revenues of $45.5 million, an increase of $6.0 million, or 15%, as compared to the prior year period.^{2 2}In addition, the Company reported an operating loss of $25.5 million, an improvement of $2.0 million, or 7%, and adjusted operating loss of $20.0 million, an improvement of $0.8 million, or 4%, both as compared to the prior year period.² (1)

In addition, subsequent to the end of the quarter, the New York Knicks ("Knicks") began their 2026-27 regular season at the Madison Square Garden Arena ("The Garden") with a banner raising and ring celebration to commemorate the team winning the 2025-26 NBA Championship.

MSG Knickerbockers Corp. Executive Chairman and CEO James L. Dolan said, "With the completion of the spin-off of our Rangers business and a new Knicks season underway, our business is well-positioned to build on our positive operating momentum. We remain confident in the value of owning this storied franchise and our ability to generate long-term shareholder value."

Financial Results for the Three Months Ended September 30, 2026 and 2025:

Three Months Ended

September 30, Change

Adjusted operating loss (1)

$ (20.0) $ (20.8) $ 0.8 4 %

Note: Does not foot due to rounding.

1. See page 3 of this earnings release for the definition of adjusted operating income (loss) included in the discussion of non-GAAP financial measures.

1

Summary of Financial Results

For the fiscal 2027 first quarter, revenues of $45.5 million increased $6.0 million, or 15%, as compared to the prior year period. This primarily reflected higher revenues from league distributions of $3.1 million, mainly due to an increase in certain league distributions unrelated to national media rights fees.^{3 3}In addition, food, beverage and merchandise sales increased $2.6 million as compared to the prior year period, primarily due to higher Knicks merchandise revenues driven by ongoing demand from the team winning the 2025-26 NBA Championship.³

Direct operating expenses of $8.8 million increased $0.5 million, or 7%, as compared to the prior year period. This was primarily driven by (i) higher expenses associated with merchandise sales of $1.6 million, (ii) higher team personnel compensation of $1.3 million, and (iii) higher net provisions for certain team personnel transactions of $0.7 million, mostly offset by (iv) a $3.0 million decrease in net provisions for league revenue sharing expense (net of escrow and excluding playoffs) and NBA luxury tax.

Selling, general and administrative expenses of $60.8 million increased $3.0 million, or 5%, as compared to the prior year period. This increase was primarily driven by (i) expenses related to the spin-off transaction in the current year period of $3.6 million and (ii) higher other general and administrative expenses, partially offset by (iii) lower employee compensation and related benefits of $1.2 million.

Operating loss of $25.5 million improved $2.0 million, or 7%, and adjusted operating loss of $20.0 million improved $0.8 million, or 4%, both as compared to the prior year period, primarily due to higher revenues, partially offset by higher selling, general and administrative expenses.

About MSG Knickerbockers Corp.

MSG Knickerbockers Corp. is a leading professional sports company that owns and operates the New York Knicks (NBA), as well as a development league team, the Westchester Knicks (NBAGL).⁴ As an original franchise of the NBA, the Knicks have a rich history, winning three NBA Championships including the 2025-26 NBA Championship. More information is available at msgknicks.com.

2

Non-GAAP Financial Measures

We define adjusted operating income (loss), which is a non-GAAP financial measure, as operating income (loss) excluding (i) depreciation, amortization and impairments of property and equipment, goodwill and other intangible assets, (ii) share-based compensation expense or benefit, (iii) restructuring charges or credits, (iv) gains or losses on sales or dispositions of businesses, (v) the impact of purchase accounting adjustments related to business acquisitions, and (vi) gains and losses related to the remeasurement of liabilities under the Company's Executive Deferred Compensation Plan. Because it is based upon operating income (loss), adjusted operating income (loss) also excludes interest expense (including cash interest expense) and other non-operating income and expense items. We believe that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of our business without regard to the settlement of an obligation that is not expected to be made in cash. In addition, we believe that the exclusion of gains and losses related to the remeasurement of liabilities under