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[BUSINESS] · United States · 3 sources

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Part of situation: MSG Sports corporate spin-off (2 clusters)

Madison Square Garden splits Knicks and Rangers into separate companies

Madison Square Garden New York Knicks New York Rangers James Dolan corporate spinoff

Madison Square Garden Sports has completed the spinoff of the New York Rangers from the New York Knicks, establishing them as two distinct publicly traded entities. The Knicks’ parent company now trades on the New York Stock Exchange under the ticker MSGK, while the Rangers operate under the symbol MSGR.

James Dolan remains the CEO and chairman of both entities. Following the completion of the spinoff, Dolan received a $10 million cash bonus, which was approved by a three-member compensation committee with no family ties to the Dolan family.

The separation aims to address a valuation gap where the combined company previously traded at a significant discount compared to private market estimates. While Forbes values the Knicks at approximately $12.6 billion and the Rangers at $4 billion, the split is expected to make it easier for either team to seek third-party minority investments or potential future sales.

Entities

James Dolan · Madison Square Garden Sports · New York Knicks · New York Rangers · New York Stock Exchange

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

New York Knicks, Rangers officially split into separate publicly traded companies [offthepress.com]
Knicks, Rangers Split Complete as Dolan Discount Shrinks [www.sportico.com]
New York Knicks, Rangers officially split into separate publicly traded companies [nypost.com]