MSG Sports to spin off Knicks and Rangers into separate companies

Madison Square Garden Sports Corporation has approved a corporate spin-off to separate its New York Rangers operations from its New York Knicks business. The transaction is scheduled for completion on October 26, 2026.

The split will establish two independent publicly traded entities. The parent organization will be renamed MSG Knickerbockers Corporation, housing the New York Knicks and the Westchester Knicks. The new entity, MSG Rangers Corporation, will include the New York Rangers, the Hartford Wolf Pack, and the MSG Training Center.

James L. Dolan will maintain leadership across both organizations, serving as executive chairman and CEO of MSG Rangers while continuing his current roles at MSG Knicks. The transaction is intended to be a tax-free distribution for U.S. federal income tax purposes. Shareholders are expected to receive one share of MSG Rangers Class A or Class B common stock for every two shares of MSG Sports held as of the October 20, 2026, record date. The teams will trade on the New York Stock Exchange under the symbols MSGK and MSGR.