MSG Sports proposes separating Knicks and Rangers businesses

MSG Sports has filed paperwork with the Securities and Exchange Commission proposing to separate the business operations of the New York Knicks and the New York Rangers. The company aims to complete the spin-off by the end of October 2026.

If the transaction is finalized, MSG Sports will become MSG Knickerbockers Corp., which will house the New York Knicks and the Westchester Knicks. A new publicly traded entity, MSG Rangers Corp., will be created to include the New York Rangers, the Hartford Wolf Pack, and the MSG Training Center in Greenburgh.

James Dolan is expected to remain the executive chairman and CEO of both companies. Under the proposal, existing MSG Sports shareholders would receive proportional shares in the new Rangers company, allowing investors to value and invest in the two franchises independently. The move follows record commercial results for the organization, including a reported fourth-quarter fiscal revenue of $4.78 billion, a 37% increase from the previous year.