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MSG Stock Is Sinking as the NBA Suspends Its Season

The National Basketball Association suspended its season Wednesday night after a Utah Jazz player tested positive for Covid-19 before a game. Shares of Madison Square Garden —which owns the New York Knicks, Rangers, and other entertainment assets like their home arena—were tanking Thursday morning.

“The NBA will use this hiatus to determine next steps for moving forward in regard to the coronavirus pandemic,” the league said in a statement.

The announcement came during a Knicks road game against the Atlanta Hawks. The teams finished the game, which the Knicks actually won in overtime. It could be their last game for a while.