MSG Splitting Up Knicks, Rangers Moves Closer After New Filing

Madison Square Garden Sports Corp. has taken a formal step toward separating two of the most valuable franchises in US sports, at a time when the New York Knicks are making another deep postseason run.

The company filed a confidential initial Form 10 registration statement with the Securities and Exchange Commission for a proposed split of the New York Rangers business and Knicks into separate companies, according to a statement Monday. The documents are often used to kickstart regulatory review processes before corporate restructurings or spinoffs.