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Madison Square Garden to split Knicks and Rangers into separate companies
Original: Madison Square Garden to split Knicks, Rangers into separate publicly traded companies
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.
Why now: A major corporate restructuring of two of the most valuable franchises in American sports drew wide attention.
Madison Square GardenNew York KnicksNew York Rangers
Evidence
- Madison Square Garden to split Knicks, Rangers into separate publicly traded companies · The New York Times
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