MSG Network Stuns Fans As They Reduce Payments to the New York Rangers Franchise

MSG Networks is attempting to get out of bankruptcy. In order to do so, the network has renegotiated with its creditors in order to relieve itself of its obligations.

To the tune of about $514 million, as the RSN will accept cuts to its media fees, that is about an 18% decrease in payments to the Rangers, and 28% to the Knicks.

In 2025, to give you an idea, the Network set aside $187 million in fees for both teams.

According to SEC filing's the stakeholders in the companies have agreed to implement these by June 27, 2025.

This will also reduce the contractual obligations of MSG Networks to the Rangers and Knicks, which instead of running to the year of 2035, will end in 2028-2029, and they will have the first right of refusal as well.

While this keeps MSG Networks alive, a company that is owned by James Dolan through his major company Sphere Entertainment, he has a monopoly on New York and New Jersey sports.

The network owns the rights to not only the New York Rangers but also the New York Islanders, New York Knicks, and New Jersey Devils.

Maybe instead of controlling every aspect of the sports world, Dolan could afford to sell the rights of the Islanders and Devils in order to help get his house in order.

As it stands now, his hubris is playing out in public, and it doesn't look good, especially in light of the MSG Network's feud with Optimum.

Nevertheless, Dolan will get to reduce his obligations to the Knicks and Rangers in order to save his own neck.