Madison Square Garden, commonly referred to by its initials, MSG, is an indoor area designed for multiple purposes situated in New York City. The current Madison Square Garden is located in Midtown Manhattan on the top of Pennsylvania Station and is the fourth building to carry its name. The first two buildings to be called ‘Madison Square Garden’ were located on Madison Square, from which the building took its name. The third building to share the name was situated further uptown.
Currently the Garden is most well-known for its hosting of sports events, such as professional ice hockey and basketball which take place regularly, as well as one-off events such as boxing or ice shows. The venue is also routinely used as a music venue and has featured many artists over its history with many of them considering it to be a badge of honor to have played at the venue. Two professional sports teams called the Garden their home, the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League.
The current Madison Square Garden was opened on the 11th of February, 1968, and is currently the oldest major sporting arena in the New York metropolitan area. The Garden is regularly one of the busiest music arenas in the world.
Including major renovations, the total cost of the Garden has been estimated at $1.1 billion, making it one of the most expensive music and sports venues around the world. Despite the large cost, the venue itself regularly runs at a profit and has been known to give a boost to local businesses who see a boost each time a major event takes place at the Garden.