Overview
- The spinoff closed this week and the two franchises began trading on the New York Stock Exchange under MSGK for the Knicks and MSGR for the Rangers.
- Shareholders received one MSGR share for every two former MSGS shares as part of the transaction.
- Company filings show the Knicks generated about $812 million in 2025‑26 revenue with roughly $55 million in EBITDA while the Rangers posted about $341 million in revenue and an operating loss.
- James Dolan remains CEO and chair of both companies, the Dolan family keeps concentrated voting control, and Dolan received a one‑time $10 million cash payout tied to the split.
- The company framed the move as a way to narrow a persistent market discount on the combined stock and to prepare for a 2027 tax rule limiting player‑pay deductions, but long‑term arena leases and service agreements keep the teams financially linked to other Dolan businesses.