MSG Knickerbockers and MSG Rangers Shares Begin NYSE Trading After Spin-Off

MSG Knickerbockers Corp. and MSG Rangers Corp. began regular trading on the New York Stock Exchange Tuesday after completing the spin-off that divided Madison Square Garden Sports’ basketball and hockey businesses into separate public companies.

The split became effective at 11:59 p.m. ET Oct. 26 (3:59 a.m. UTC Oct. 27). The completed spin-off fulfills the separation plan outlined Oct. 21.

Shareholders recorded at the close of business Oct. 20 received one MSG Rangers share for every two shares of the corresponding class in Madison Square Garden Sports Corp. The distribution covered all outstanding MSG Rangers shares.

Class A shares in MSG Knickerbockers trade under MSGK, while MSG Rangers shares trade under MSGR. Class B shares in both companies are not listed on an exchange.

MSG Knickerbockers retained the New York Knicks and Westchester Knicks. MSG Rangers received the New York Rangers, their American Hockey League affiliate Hartford Wolf Pack and the MSG Training Center in Greenburgh, New York. MSG Rangers also licenses Madison Square Garden from MSG Entertainment.

In fiscal 2026, the Rangers business posted $337.270 million in revenue, with operating and net losses of $30.474 million and $26.378 million, respectively. Those figures are historical combined results from before the business operated as a standalone public company.

MSG Sports Executive Chairman and CEO James L. Dolan said in a Sept. 30 announcement approving the spin-off, “Each company will be well-positioned to generate long-term value for shareholders.”