The Knicks and Rangers Are Splitting Into Two Companies

MSG Sports will split the Rangers off from the Knicks, after board approval announced September 30, 2026. Yahoo Finance

The company is known as MSG Sports. It trades on the New York Stock Exchange under the letters MSGS, called a ticker symbol. Yahoo Finance The plan is to spin off the Rangers business from the Knicks business.

This has been in the works for months. On February 18, 2026, the board unanimously agreed to explore a possible split of the Knicks and Rangers businesses. MSG Sports The company filed its first Form 10, the official paperwork to create a new public company, on May 18, 2026. MSG Sports It then publicly filed a Form 10 on August 14, 2026. MSG Sports It hopes to finish by the end of October 2026, if certain conditions are met. MSG Sports

The split covers the two teams and their affiliates. The assets include the New York Knicks of the NBA and the New York Rangers of the NHL. They also include the Westchester Knicks development league team and the Hartford Wolf Pack of the AHL. The company runs the MSG Training Center in Greenburgh, NY.

Right now there is one public company. After the split there would be two. Each would have its own checked financial reports, rulebook and debt plan once the Form 10 takes effect.

The broader context here is simple. Think of it like cutting one household budget in two. Right now ticket and suite sales, TV money, sponsors and costs are counted together. After the split, each team counts its own money. That matters because basketball and hockey have different seasons, labor deals, money-sharing rules and building costs. Separate owners get each team's cash directly. Each management team can set its own budget and debt plan. Trading also splits. One large pool of shares becomes two smaller pools.

Looking at what this means for execution, approval does not mean the deal is done. Board approval allows the share handoff to move ahead, but closing still needs various conditions and aims for the end of October 2026 target. The last stretch normally covers final sign-off from regulators, signed separation deals, and getting shares ready to trade early on a when-issued basis and normally on a regular-way basis. Holdups or waivers there are common. The steps from February exploration to the May filing to the August filing to September approval were finished in order.