Feb. 18 at 2:58 PM
Madison Square Garden Sports Corp announced plans to explore a potential tax-free spin-off that would separate the New York Knicks and the New York Rangers into two independent publicly traded companies.
Under the proposed transaction, 100% of the shares of the newly formed company would be distributed pro rata to existing MSG Sports shareholders. The move aims to allow investors to more clearly evaluate each franchise’s assets and growth prospects while giving both entities greater strategic and financial flexibility.
Executive Chairman and CEO Jim Dolan said the separation could unlock shareholder value by giving each team a distinct corporate structure and investment profile. Following the split, the Knicks-focused company would include the NBA franchise — which reached the Eastern Conference Finals last season — and its G League affiliate, the Westchester Knicks.
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