Transaction
Madison Square Garden Sports filed a Form 10 registration statement with the SEC on Monday as the first concrete step toward separating the NBA and NHL franchises into independent entities.
Madison Square Garden Sports filed a Form 10 registration statement with the SEC on Monday, advancing plans to split the New York Knicks and New York Rangers into separate publicly traded companies. The filing marks the formal regulatory step required before either franchise can trade independently.
MSG Sports currently owns both the Knicks (NBA) and Rangers (NHL) as part of its portfolio. A spinoff would create two distinct public entities, each trading as its own stock.
1 min read
Source: Yahoo Sports Verified news feed