MSG Sports board approves Knicks and Rangers spinoff into separate public companies

Mike Vorkunov reports that MSG Sports’ board approved a plan to separate the Knicks and Rangers into publicly traded companies. MSG Knickerbockers Corp. would own the Knicks and Westchester Knicks; MSG Rangers Corp. would include the Rangers, the MSG training facility and the Hartford Wolf Pack. The transaction is scheduled for October 26, subject to league approvals and other conditions.