MSG Explores Splitting Knicks and Rangers into Separate Companies

Got story updates? Submit your updates here. ›

Madison Square Garden Sports Corp. announced that it is exploring splitting up the New York Knicks and New York Rangers, which it owns under the same corporate umbrella, into two publicly traded companies. The proposed transaction would provide each team with enhanced strategic flexibility, its own defined business focus, and clear characteristics for investors.

Why it matters

The split would allow the Knicks and Rangers, two of the most valuable franchises in their respective leagues, to operate independently and potentially unlock more value for shareholders. It also highlights the continued importance of premier sports teams as valuable assets, even as the Knicks and Rangers have had mixed on-court success in recent years.

The details

Under the proposed plan, the Knicks and Rangers would each become their own publicly traded companies, with both entities also including minor league affiliates. MSG Executive Chairman and CEO Jim Dolan said the move would provide the teams with 'enhanced strategic flexibility, its own defined business focus, and clear characteristics for investors.'

• MSG Sports Corp. announced the plan to explore the split on February 18, 2026.

What they’re saying

What’s next

The proposed split of the Knicks and Rangers into separate publicly traded companies is still in the exploratory phase. Madison Square Garden Sports Corp. has not provided a timeline for when a final decision on the transaction would be made.