Madison Square Garden Sports’ board has approved splitting the New York Knicks and New York Rangers into two independent companies. The company will rename itself MSG Knickerbockers Corp., which will own both the reigning NBA champion New York Knicks and the Westchester Knicks. The separate Knicks and Rangers companies will both trade on the New York Stock Exchange.
James Dolan will serve as executive chairman and CEO of both companies. The split is expected to take effect on Oct. 26.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing