Madison Square Garden Sports Corp. (NYSE: MSGS) ("MSG Sports" or the "Company") today announced that it is continuing to make progress on the proposed spin-off of its New York Rangers business from its New York Knicks business, with the public filing of a Form 10 Registration Statement for the new Rangers company with the U.S. Securities and Exchange Commission.

As previously announced, the proposed transaction would create two distinct publicly traded companies. Following completion of the spinoff, MSG Sports is expected be renamed MSG Knickerbockers Corp. and would include the Knicks and the Westchester Knicks. The newly created Rangers company would be named MSG Rangers Corp., and would include the Rangers, as well as the Hartford Wolf Pack and the MSG Training Center. James L. Dolan is expected to serve as Executive Chairman and Chief Executive Officer of MSG Rangers Corp., and remain Executive Chairman and Chief Executive Officer of MSG Knickerbockers Corp.

The spin-off transaction is expected to be structured as a tax-free spin-off to all Company shareholders, and upon completion of the contemplated separation, record holders of Company Class A and Class B common stock would receive a pro-rata distribution of 100% of the common stock in the newly created Rangers company.

MSG Sports currently expects to complete the spin-off by the end of October 2026. There can be no assurance that the proposed transaction will be completed in the manner described above, or at all. Completion of the transaction remains subject to various conditions, including any required league approval, receipt of a tax opinion from counsel and Company board approval.

The Form 10 Registration Statement is filed under the name MSGS Spinco, Inc. (to be renamed MSG Rangers Corp. following the spin-off).