Jon Boyar on the Dolan Discounts at $MSGS and $MSGE

Jon Boyar returns to the podcast to talk about his investment thesis for MSGS and MSGE, including why he thinks investors are underrating James Dolan and just how wide their discount to asset value has become.

You can find more on the Fresh Looks here: https://boyarresearch.myshopify.com/products/2022-opportunity-issue-edition-with-bonus-content?utm_content=216760092&utm_medium=social&utm_source=twitter&hss_channel=tw-963533512887406593

Chapters
0:00 Intro
3:45 MSG History
8:10 Do the Dolan's actually create value for minority shareholders?
13:15 MSGS SOTP
15:55 Can someone actually write a check for the Knicks
21:15 What happens when the NBA rights renew?
24:20 Could the Knicks and Rangers backstop a new Garden at some point?
29:30 MSGE spin overview
31:10 Why not do a full spin at MSGE?
33:20 MSGE bull thesis (SOTP) versus bear thesis (Sphere)
37:00 How bad was the MSGN deal
40:15 Sports betting
47:00 What are the Rockettes worth?
49:20 Will James Dolan actually sell the team?
53:30 Please don't trade for Donovan Mitchell