MSG Sports files paperwork with SEC to split Knicks, Rangers into separate companies
A general view inside Madison Square Garden during a Rangers game last December. Credit: Getty Images/Kenneth Richmond
MSG Sports Corp. took a step toward splitting up the Knicks and Rangers as separate companies on Monday by filing paperwork with the Securities and Exchange Commission, according to a MSG news release.
By filing a confidential initial Form 10, MSG moved closer to a spin-off of the teams into separate publicly-trades companies.
The Knicks company would include the G League's Westchester Knicks and the Rangers company would include the AHL's Hartford Whalers.
In a news release, MSG did not include a timetable on when it expected the proposed spin-off to be completed.
In February, MSG Sports Corp. announced that its board of directors had unanimously approved a plan to explore a possible spin-off that would split the teams into separate companies, adding that there was no guarantee it would happen.
In 2025, Forbes ranked the Knicks as the third-most valuable team in the NBA at $9.75 billion, behind Golden State ($11 billion) and the Los Angeles Lakers ($10 billion). The Rangers were ranked second in the NHL at $4 billion. The Toronto Maple Leafs were No. 1 at $4.4 billion.
Anthony Rieber covers sports media and business and professional sports (you know, games and trades and things). He has worked at Newsday since Aug. 31, 1998, and has been in his current position since Jan. 1, 2026.
