Madison Square Garden Sports Corp. approved separating its New York Knicks and New York Rangers businesses into two independent publicly traded companies, with the transaction expected to close on October 26, 2026. MSG Sports will be renamed MSG Knickerbockers Corp. and will include the NBA's New York Knicks and the Westchester Knicks, while newly created MSG Rangers Corp. will house the NHL's New York Rangers, the Hartford Wolf Pack and the MSG Training Center in Greenburgh, New York. Executive Chairman and Chief Executive Officer James L. Dolan will hold the same role at both companies. Stockholders of record on October 20, 2026, will receive one share of MSG Rangers Class A or Class B common stock for every two shares of the corresponding MSG Sports class, without taking action or making a payment. MSG Sports will begin trading in two NYSE markets on October 21, when-issued trading will begin for MSG Rangers, and regular-way trading is scheduled to start October 27 under the symbols MSGK and MSGR. The company said the spin-off is structured to be tax-free for it and its stockholders for U.S. federal income tax purposes. Completion remains subject to an effective Form 10 registration statement, final league approval and a tax opinion from counsel. J.P. Morgan is the financial adviser and Sullivan & Cromwell LLP is the legal adviser. The Wall Street Journal reported that the company first submitted its spin-off paperwork in August.