{"url_path":"/sec/msgs/10-q/2026/item-3","section_key":"item-3","section_title":"Item 3 Quantitative and Qualitative Disclosures About Market Risk","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1636519/0001628280-26-032888-index.html","accession_number":"0001628280-26-032888","cik":"0001636519","ticker":"MSGS","issuer_name":"Madison Square Garden Sports Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1636519/0001628280-26-032888-index.html","primary_entity_key":"0001636519","primary_entity_name":"Madison Square Garden Sports Corp."},"word_count":240,"has_tables":true,"body_markdown":"Item 3. Quantitative and Qualitative Disclosures About Market Risk\n\nThere were no material changes to the disclosures regarding market risks in connection with our interest rate risk exposure. See Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” of our 2025 Form 10-K.\n\nPotential interest rate risk exposure:\n\nWe have potential interest rate risk exposure related to outstanding borrowings incurred under our credit facilities. Changes in interest rates may increase interest expense payments with respect to any borrowings incurred under the credit facilities.\n\nBorrowings under our credit facilities incur interest, depending on our election, at a floating rate based upon SOFR plus a credit spread adjustment, the U.S. Federal Funds Rate or the U.S. Prime Rate, plus, in each case, a fixed spread. If appropriate, we may seek to reduce such exposure through the use of interest rate swaps or similar instruments. As of March 31, 2026, we had a total of $242 million of borrowings outstanding under our credit facilities. The effect of a hypothetical 100 basis point increase in floating interest rates prevailing as of March 31, 2026 and continuing for a full year would increase interest expense by approximately $2.4 million. See Note 13 to the consolidated financial statements included in “Part I — Item 1. Financial Statements” of this Quarterly Report on Form 10-Q for a discussion of the 2025 Knicks Credit Agreement, 2025 Rangers Credit Agreement, and Rangers NHL Advance Agreement.\n\n35\n\n[Table of Contents](#i2a6c6db5263046968335bdfd32084699_7)"}