Madison Square Garden Unveils Completely Transformed Arena

Madison Square Garden Unveils Completely Transformed Arena

Final Phase of Historic, Three-Year Transformation Adds Dramatic New Elements
                               Throughout Venue

Arena Bowl
 Completely Transformed Madison Square
 Garden Arena Bowl

        Arena Officially Reopens Tomorrow With Knicks Pre-Season Game

NEW YORK, Oct. 24, 2013 (GLOBE NEWSWIRE) -- Madison Square Garden (Nasdaq:MSG)
today marked the completion of its three-year, top-to-bottom Transformation,
which significantly enhanced every aspect of the historic Arena, from the
first row to the last. The completed Transformation, which has been designed
to improve the experience of fans, partners, suiteholders, athletes and
entertainers, was unveiled at a star-studded, standing-room-only press event
in the Garden's re-imagined 7th Avenue entrance, Chase Square.

A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=21770

The event featured New York Governor Andrew M. Cuomo, The Madison Square
Garden Company's Executive Chairman, Jim Dolan and its President and Chief
Executive Officer, Hank Ratner, and CEO of Chase Consumer and Community
Banking, Gordon Smith, as well as Knicks legend Willis Reed and Rangers great
Mark Messier. The new Arena officially reopens tomorrow with a New York Knicks
pre-season contest.

"Madison Square Garden is more than a great sports and entertainment arena –
it is a globally recognized landmark that is an important part of the fabric
that makes New York City the greatest city in the world. The Garden serves as
home to many of New York's greatest performances and sporting experiences,
with a large, diverse, and passionate fan base that draws from across our
City, State, and around the globe. The completion of this Transformation will
allow The Garden to offer even better service to its fans, athletes, and
performers and help the venue continue to drive economic growth and job
creation here in Manhattan," said Governor Cuomo.

"Madison Square Garden is uniquely beloved by both the fans in the seats and
the athletes and performers they've come to see - and we are pleased to
transform it for the next generation," said Mr. Dolan. "We knew that the
world's greatest fans in the world's greatest city deserved a complete,
state-of-the-art experience, and the certainty that The Garden would continue
to be the setting for the biggest and best events well into the future. We
believe we've succeeded in making this a truly unforgettable place for
everyone, ensuring The Garden's future is as bright as its celebrated past."

"Our goal with the Transformation has always been to give our fans, partners,
athletes and entertainers a venue that will continue to set the standard by
which all others are measured," said Mr. Ratner. "To do that, during our
planning process we spent a lot of time getting their feedback to understand
what they wanted to experience in a transformed Garden. And we're extremely
proud that - today - we're effectively unveiling an entirely new Madison
Square Garden Arena – one that we know will continue to be the site of
unforgettable, enduring moments for generations to come."

Madison Square Garden's self-funded, $1 billion, comprehensive Transformation,
saw The Garden shut down for three consecutive off-seasons (2011, 2012, 2013),
with construction continuing behind-the-scenes during a full slate of NBA and
NHL games, sold-out concerts and other sporting and entertainment events.
During this period, Madison Square Garden continued to be among the busiest
Arenas in the country.

New elements from the third and final phase of construction, which took place
during the summer months, include:

  *A transformed Chase Square 7th Avenue entrance that is nearly double in
    size, featuring a brand new merchandise store, Garden of Dreams area, box
    office and the addition of a broadcast location, as well as two 600 square
    foot ceiling video screens featuring ground-breaking content
  *Two spectacular new Chase Bridges with one-of-a-kind views of the action
  *An EIGHTEEN/76 Balcony on the Bridge level, offering a selection of new
    food and beverage options and unique lounge seating with direct views into
    the Arena bowl
  *A state-of-the-art GardenVision center-hung multimedia display
  *A Signature Suite Level featuring 18 completely transformed suites with
    "center stage" views for concerts
  *The restoration of the iconic Garden ceiling

These most recent upgrades add to the significant enhancements completed
during the Transformation's previous two phases, which debuted in time for the
2011-12 and 2012-13 seasons, respectively. Highlights of each phase include:

Phase I Transformation highlights (completed in time for the 2011-12 seasons):

  *New Lower Bowl seating with larger, more comfortable seats
  *An expanded SAP Madison Concourse
  *20 new Nespresso Event Level Suites
  *New, exclusive Delta Sky360 Club and 1879 Club presented by J.P. Morgan
  *New Knicks and Rangers locker rooms and star dressing rooms

Phase II Transformation highlights (completed in time for the 2012-13
seasons):

  *New Upper Bowl seating with significantly enhanced sightlines
  *An expanded Garden Concourse
  *A new Lexus Madison Suite Level with 58 new Madison Suites
  *A new all-inclusive Madison Club presented by Foxwoods
  *The return of the beloved Blue Seats

One of the most important facets of the transformed Arena is its extensive
commitment to honoring Madison Square Garden's unparalleled history. Special
tributes that appear throughout the building include: Madison Square Garden's
20 "Defining Moments," where each moment is commemorated with a special
exhibit that features photos and memorabilia; "Garden 366," a visual
retrospective wrapping the circumference of the Madison Concourse, featuring
one moment in Garden history for every day of the year, and several special
photo exhibits in the Nespresso Event Level Suite and Lexus Madison Suite
Level hallways, as well as several compelling visual displays throughout the
new Chase Square Lobby. 

Additionally, the corridors on the entry level of the Arena have been restored
to replicate the look of the building when its doors first opened 45 years
ago. The 1968 North and 1968 South corridors not only replicate the floors,
walls, ceiling and lighting of the original Garden, but also feature authentic
advertisements and event promotional posters from that commemorative year.

The Transformation project also included the addition of enhanced food
offerings throughout the Arena, which now feature diverse fare from some of
the world's greatest chefs and restauranteurs, including Jeremy Marshall,
Jean-Georges Vongerichten, Phil Suarez, Andrew Carmellini, Luke Ostrom and
Drew Nieporent, as well as the popular Carnegie Deli, Hill Country Barbeque,
La Esquina and Casa Nonna.

In addition to signaling a new era for the celebrated venue, the
Transformation of Madison Square Garden was an important source of union jobs
during a difficult time in both the local and national economies. Supported by
the Building and Construction Trades Council, the project created 3,700 union
construction jobs and required 2.6 million man hours of labor.

About The Madison Square Garden Company

The Madison Square Garden Company is a fully-integrated sports, media and
entertainment business. The Company is comprised of three business segments:
MSG Sports, MSG Media and MSG Entertainment, which are strategically aligned
to work together to drive the Company's overall business, which is built on a
foundation of iconic venues and compelling content that the company creates,
produces, presents and/or distributes through its programming networks and
other media assets. MSG Sports owns and operates the following sports
franchises: the New York Knicks (NBA), the New York Rangers (NHL), the New
York Liberty (WNBA), and the Connecticut Whale (AHL). MSG Sports also features
the presentation of a wide variety of live sporting events including
professional boxing, college basketball, track and field and tennis. MSG Media
is a leader in production and content development for multiple distribution
platforms, including content originating from the Company's venues. MSG
Media's television networks consist of regional sports networks, MSG Network
and MSG+, collectively referred to as MSG Networks; and Fuse, a national
television network dedicated to music. MSG Networks also include
high-definition channels, MSG HD and MSG+ HD, and Fuse includes its
high-definition channel, Fuse HD. MSG Entertainment is one of the country's
leaders in live entertainment. MSG Entertainment creates, produces and/or
presents a variety of live productions, including the Radio City Christmas
Spectacular featuring the Radio City Rockettes. MSG Entertainment also
presents or hosts other live entertainment events such as concerts, family
shows and special events in the Company's diverse collection of venues. These
venues consist of Madison Square Garden, Radio City Music Hall, The Theater at
Madison Square Garden, the Beacon Theatre, the Chicago Theatre, the Forum in
Inglewood, CA, and the Wang Theatre in Boston, MA. More information is
available at www.themadisonsquaregardencompany.com.

The Madison Square Garden Company logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=15647

The photo is also available via AP PhotoExpress.

CONTACT: Stacey Escudero/212-465-5902
         stacey.escudero@msg.com

The Madison Square Garden Company logo
 
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