finance
MSG Sports Files to Split Knicks and Rangers into Separate Companies
Madison Square Garden Sports filed a Form 10 registration statement with the Securities and Exchange Commission on Monday to pursue a tax-free spin-off of the New York Knicks and New York Rangers. The filing would create two independent publicly traded companies.
May 18, 2:56 PM·1m read1 source
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Madison Square Garden Sports filed an initial Form 10 registration statement with the Securities and Exchange Commission on Monday to separate the New York Knicks and New York Rangers into two independent publicly traded companies. The proposed tax-free spin-off would place the NBA franchise and its Westchester Knicks G League affiliate in one company and the NHL franchise and Hartford Wolf Pack in the other.
The company stated the move would allow investors to evaluate each business separately and provide greater strategic flexibility.
5 billion. 75 billion last year, while CNBC placed the franchise above $10 billion. Forbes valued the Rangers at $4 billion. Derek Reisfield, co-founder of MarketWatch and former CBS executive, said the filing addresses a persistent gap between the public stock price and private-market valuations of the teams.
Which was created after a 2023 spin-off of live entertainment venues. The arena’s operating permit expires in 2028. Reisfield noted that arena rights and shared expenses between Dolan-controlled entities have complicated investor assessments of the teams’ value.
An MSG spokesperson declined to comment beyond the company’s statement. The company cautioned that completion of the separation is not guaranteed.
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