The Gabelli Value 25 Fund Inc. on Madison Square Garden Sports Corp.
Thesis
MSG Sports offers direct public exposure to two scarce professional sports franchises, the Knicks and Rangers. Gabelli views team values as attractive stores of value and sees the planned separation of the two franchises as a catalyst for broader strategic options. The Knicks' championship strengthens the long-term fan base and franchise profile.
“MSGS confirmed it would separate the Rangers and Knicks to widen the strategic options for each entity.”