MSG Sports Considering Spinning Off New York Knicks, Rangers

Madison Square Garden Sports Corp.’s board of directors approved a plan to explore splitting the NBA’s New York Knicks from the NHL’s New York Rangers, a move that would make each team a separate publicly traded company.

Few sports conglomerates are worth more than the combined value of the Knicks and Rangers, who both play at Madison Square Garden, one of the most famous arenas in the world. Sportico values the Knicks at $9.85 billion, third in the NBA. The Rangers are worth $3.65 billion, second in the NHL behind the Toronto Maple Leafs.