MSG Sports

MSG Sports has approved a plan to spin off the New Rangers business, separating the New York Rangers hockey operation from the New York Knicks under the Madison Square Garden Sports corporate umbrella. The move would split the company's two flagship sports franchises into distinct entities, a significant restructuring for one of America's best-known sports ownership groups.

The board of Madison Square Garden Sports has approved a plan to spin off the New York Rangers from the New York Knicks, separating the company's NHL and NBA franchises into distinct operations. The move would give each team its own structure, though details on timing and terms remain limited following the board's decision.

Madison Square Garden Sports announced plans to separate the New York Knicks and New York Rangers into two independent, publicly traded companies. The move would give each franchise its own listing, allowing investors to buy into the NBA basketball team and the NHL hockey team separately. The New York Times reported the announcement, which continues a series of restructurings of the MSG entertainment and sports empire.