MSG Knicks Completes Spin-Off of New York Rangers Business

Stockholders received shares in the separate Rangers company without having to take action or make a payment.

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NEW YORK--(BUSINESS WIRE)-- MSG Knickerbockers Corp. (NYSE: MSGK) (the “Company” or “MSG Knicks”) today announced that it has completed the spin-off of its New York Rangers business and changed its name from Madison Square Garden Sports Corp. to MSG Knickerbockers Corp. MSG Knicks will begin trading today on the NYSE under the new ticker symbol “MSGK.” The newly formed Rangers company, MSG Rangers Corp., will begin trading today on the NYSE under the ticker symbol “MSGR.”

The spin-off distribution was completed at 11:59 p.m. ET on October 26, 2026 to stockholders of record as of the close of business on October 20, 2026. Each of MSG Knicks’ stockholders received a distribution of one share of the new MSG Rangers Class A or Class B common stock for every two shares of MSG Knicks’ Class A or Class B common stock, respectively, held as of the record date, representing all the outstanding shares of MSG Rangers.

No action or payment was required by MSG Knicks stockholders to receive the new MSG Rangers shares. Stockholders who held MSG Knicks’ common stock as of the record date will receive a book-entry account statement reflecting their ownership of the new MSG Rangers shares or have their brokerage account credited with the new MSG Rangers shares.

The spin-off has been structured to qualify as a tax-free distribution to MSG Knicks’ stockholders and the Company for U.S. federal income tax purposes. The Company’s stockholders are urged to consult with their tax advisors with respect to the U.S. federal, state, local and foreign tax consequences of the spin-off.

About MSG Knickerbockers Corp.
MSG Knickerbockers Corp. is a leading professional sports company that owns and operates the New York Knicks (NBA), as well as a development league team, the Westchester Knicks (NBAGL). As an original franchise of the NBA, the Knicks have a rich history, winning three NBA Championships including the 2025-26 NBA Championship. More information is available at msgknicks.com.

Forward-Looking Statements
This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industry in which it operates, and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261027991747/en/

corpcomms@msgknicks.com

Source: MSG Knickerbockers Corp.

Key Terms

tax-free distribution financial

A tax-free distribution is a payment to shareholders or unit holders that is not treated as taxable income under applicable tax rules, commonly because it is classified as a return of capital or comes from tax-exempt sources. It matters to investors because it changes the investor’s after-tax cash received and usually reduces the recipient’s cost basis in the investment, similar to getting back part of your original investment rather than receiving taxable earnings.