Madison Square Garden Entertainment Enters Penn Station Redevelopment MoU

Madison Square Garden Entertainment Corp. announced it has entered into a non-binding memorandum of understanding with Penn Transformation Partners, the Master Developer for the New York Penn Station redevelopment. The MoU acknowledges that The Madison Square Garden Arena must remain fully operational and contemplates the transfer of the Infosys Theater at MSG to the Master Developer. The transactions are subject to further negotiation, definitive documentation, and execution of Developer Agreements, with no assurances of completion.