Why let the super rich have all the fun? You can make money and own a stake in a high-profile professional sports franchise.

It may be a small number of shares, but you'll still be able to brag that you own part of a team like the NBA's New York Knicks. 

You can join the ranks of billionaire, big egos like Liberty Media's John Malone (Atlanta Braves), Carnival Cruise's Micky Arison (Miami Heat), and Microsoft's Paul Allen (Seattle Seahawks and Portland Trailblazers) who purchased their teams and are regular sideline presences at home games. 

None of these teams are publicly traded. But investors can buy stock in the corporate entities that own other teams. 

Consider Madison Square Garden, which owns the Knicks, one of the country's most celebrated sports franchises, the NHL's New York Rangers and the iconic circular arena, Madison Square Garden. MSG represents a good investment opportunity because of its recent maneuvering and the high-profile nature of its teams and other sports and entertainment events.

MSG, which operates through two divisions, MSG Sports and MSG Entertainment, is looking to expand its brand nationwide. Moreover, it meets several of the fundamental criteria that Warren Buffett rigorously applies to any stock before buying it. The company has a highly recognizable brand, and there's clear demand for its products. Analysts see potentially big growth prospects for the stock. 

MSG Sports operates the Knicks, the Rang­ers and the WNBA's New York Liberty. This unit also promotes and produces other live sporting events, including professional boxing, college basketball and tennis.

The MSG Entertainment unit presents and hosts live entertainment events, including concerts, family shows, performing arts and special events in a diverse collection of venues, including The Theater at Madison Square Garden, Radio City Music Hall, the Beacon Theatre, the Forum, The Chicago Theatre and the Wang Theatre.

In addition, MSG Entertainment creates, produces and presents live productions, including the Radio City Christmas Spectacular and New York Spring Spectacular, both featuring the Rockettes.

MSG now represents the sort of untapped market dominance that value investors seek in a stock. Consider the entity's recent history. 

On Sept. 30, the spin-off of Madison Square Garden from MSG Networks  (MSGN - Get Report) was completed. Under the deal, shareholders in the former Madison Square Garden, backed by the ownership family of James Dolan, received one share in its sports and entertainment business for every three shares they held.

In the spinoff, MSG retained the Knicks and Rangers, among other teams, and Madison Square Garden and Radio City Music Hall.

The new MSG entity is keeping the parent's name and ticker symbol.

MSG Networks is remaining as operator of MSG Network and MSG+, which are regional sports networks that telecast about 700 live sporting events.

MSG's operational results for both the fiscal 2016 and 2015 first quarter were reported as the combined numbers of the sports and entertainment businesses, which had been part of MSG Networks prior to the spin-off.

First quarter revenue for fiscal 2016 was $150.4 million, a year-over-year increase of 26%. The quarter's operating loss of $4.6 million improved by $30.5 million compared to the same period a year ago, which equates to an earnings a share (EPS) loss of 6 cents versus a loss of $1.51 a year ago.

With the costs of the spinoff now in the rear view mirror, MSG can focus on live sports and entertainment with an ambitious growth strategy to extend its opera­tions beyond New York.

MSG is now a more streamlined organization and better positioned to take advantage of its inherently strong assets, not least of which is the fame of its sports and entertainment brands. The company is capitalized with $1.47 billion, giving it enough financial muscle to pursue not only acquisitions but also buyback stock.

MSG closed trading Tuesday at a little over $164.39 a share. But analysts are setting a mean target price of $205, a 25% increase from today's price. If you want to buy a sports and entertainment juggernaut that's poised to beat the market in 2016, MSG is a slam dunk.

As 2016 looms around the corner, which stocks should you buy or sell? We suggest you take your cue from the greatest investor of all time, Warren Buffett. To learn what the Oracle of Omaha is buying and selling right now, download a copy of this free report.



John Persinos is editorial manager and investment analyst at Investing Daily. At the time of publication, the author held no positions in the stocks mentioned.