Madison Square Garden Sports Corp. 10-K

Item 7A. Quantitative and Qualitative Disclosures About Market Risk We have potential interest rate risk exposure related to outstanding borrowings incurred under our Knicks Revolving Credit Facility and Rangers Revolving Credit Facility , collectively, the “ MSG Sports Credit Facilities ”. Changes in interest rates may increase interest expense payments with respect to any borrowings incurred under the MSG Sports Credit Facilities . Borrowings under our MSG Sports Credit Facilities incur interest, depending on our election, at a floating rate based upon LIBOR, 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. See Note 13 to the consolidated financial statements included in Item 8 of this Annual Report on Form 10-K for more information on our MSG Sports Credit Facilities . As of June 30, 2020 , we had a total of $350 million in debt outstanding under our MSG Sports Credit Facilities . The effect of a hypothetical 100 basis point increase in floating interest rates prevailing as of June 30, 2020 and continuing for a full year would increase interest expense approximately $3.5 million . In addition, see “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Factors Affecting Results of Operations — Impact of COVID-19 on Our Business ” for discussions of disruptions caused by COVID-19. Item 8 . Financial Statements and Supplementary Data The Financial Statements required by this Item 8 appear beginning on page F-1 of this Annual Report on Form 10-K, and are incorporated by reference herein. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure None.