Madison <a href="https://laohu8.com/S/XYZ">Square</a> Garden Sports Secures $425 Million Knicks and $250 Million Rangers Revolving Credit Facilities
Madison Square Garden Sports Corp. announced that its subsidiaries, New York Knicks, LLC and New York Rangers, LLC, have each entered into amendments to their respective existing credit agreements with JPMorgan Chase Bank, N.A. and other lenders. The amended agreements, effective November 6, 2025, provide for senior secured revolving credit facilities of up to $425 million for the Knicks and $250 million for the Rangers, intended to fund working capital needs and general corporate purposes. The Knicks' facility matures on November 6, 2030, with an outstanding balance of $267 million as of the amendment date. Borrowings under the facilities bear interest at floating rates tied to either a base rate or term SOFR, plus applicable margins based on credit ratings. The amendments also include customary financial covenants and conditions.
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