Madison Square Garden Sports Corp. (NYSE: MSGS) ("MSG Sports" or the "Company") today announced that its board of directors has approved the spin-off of its New York Rangers business from its New York Knicks business, with the transaction expected to be completed on October 26, 2026.

Upon completion, MSG Sports will be renamed MSG Knickerbockers Corp. ("MSG Knicks") and will be comprised of the New York Knicks and the Westchester Knicks. The newly created Rangers company, MSG Rangers Corp., ("MSG Rangers") will include the New York Rangers, as well as the Hartford Wolf Pack and the MSG Training Center. As previously announced, James L. Dolan will serve as Executive Chairman and Chief Executive Officer of MSG Rangers and remain Executive Chairman and Chief Executive Officer of MSG Knicks.