MSG Sports files Form 10 Registration Statement for proposed spin-off

Madison Square Garden Sports has made progress towards a proposed spin-off of its New York Rangers business from its New York Knicks business by filing a confidential initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission. As previously announced, the possible transaction would create two distinct publicly traded companies, enabling shareholders to more clearly evaluate each company’s assets and growth prospects, while providing both with enhanced strategic and financial flexibility. If MSG Sports (MSGS) proceeds with the spin-off transaction, it is expected to be structured as a tax-free spin-off to all Company shareholders and upon completion of the contemplated separation, it is expected that record holders of Company Class A and Class B common stock would receive a pro-rata distribution of 100% of the common stock in the newly created public company. After the proposed spin-off, the New York Knicks company is expected to include the Knicks, an original franchise of the NBA, whose history includes eight trips to the NBA Finals and two NBA Championships, and have advanced to the Eastern Conference Finals in the 2026 NBA playoffs. Also included would be the Westchester Knicks, the exclusive NBA G League affiliate of the Knicks. The New York Rangers company is expected to include the Rangers, one of the NHL’s “Original Six” franchises, which recently celebrated its 100th Anniversary season and whose history includes four Stanley Cup Championships. Also included would be the Hartford Wolf Pack, a minor-league hockey team in the AHL, and the top affiliate team for the Rangers.