Sports
Madison Square Garden Approves Spinoff for Knicks, Rangers
- Under new approach, entertainment unit won’t own sports stake
- The shake-up has fueled speculation that Knicks may be sold
Madison Square Garden Co., owner of the eponymous arena and other venues, approved a plan to spin off all of its sports business, including the New York Knicks and Rangers.
The plan would keep MSG’s entertainment operations as a publicly held company -- with no equity interest in the sports business.