MSG Sports Considering Spinning Off Knicks, Rangers

Potential move would make NBA and NHL teams separate public companies

Published on Feb. 24, 2026

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The board of directors of Madison Square Garden Sports has approved a plan to explore splitting the NBA's New York Knicks and the NHL's New York Rangers into separate publicly traded companies.

Why it matters

This potential move would allow the Knicks and Rangers to operate independently as standalone public companies, potentially unlocking more value for shareholders and providing more flexibility for each franchise to pursue its own strategies and investments.

The details

Under the plan, MSG Sports would separate the Knicks and Rangers into two distinct public companies, allowing each team to have its own stock listing and financial structure. This could provide more transparency and accountability for investors, as well as enable the franchises to make decisions more aligned with their specific needs and market dynamics.

  • On February 19, 2026, the MSG Sports board of directors approved the plan to explore the spinoff.

The players

Madison Square Garden Sports

The company that owns the New York Knicks and New York Rangers professional sports franchises.

New York Knicks

The NBA basketball team based in New York City that is currently owned by MSG Sports.

New York Rangers

The NHL hockey team based in New York City that is currently owned by MSG Sports.

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What’s next

The next step in the process will be for MSG Sports to further evaluate the potential spinoff and determine if it is the best strategic move for the company and its shareholders.

The takeaway

This potential spinoff of the Knicks and Rangers could unlock value for MSG Sports shareholders and provide more flexibility for each franchise to pursue its own goals, but the company will need to carefully weigh the pros and cons before making a final decision.