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MSG Rangers: Dolan group reports roughly 19.2% stake

MSG Rangers Corp. (MSGR) completed its spin-off from MSG Knickerbockers Corp. on October 26, 2026.

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Form Type
SCHEDULE 13D

Rhea-AI Filing Summary

MSG Rangers Corp. (MSGR) completed its spin-off from MSG Knickerbockers Corp. on October 26, 2026. The Group Members acquired and may be deemed to beneficially own an aggregate of 2,328,652 shares of Class A Common Stock, including shares issuable upon conversion of Class B Common Stock; this represents approximately 19.2% of the total common shares deemed outstanding. Under the Class B Stockholders’ Agreement, the Group Members may be deemed to share voting and disposition power over 2,030,772 Class A shares issuable upon conversion of Class B shares, representing 89.7% of outstanding Class B Common Stock.

The agreement and an issuer board action qualify MSG Rangers as a “controlled company” under New York Stock Exchange rules. The Dolan Family Committee determines the Group Members’ votes on Class B matters. The agreements also provide specified transfer restrictions, sale rights and registration rights, including the ability to require registration on up to four occasions in the aggregate, subject to conditions. During the 12 months following the distribution, a tender offer that would result in Group Members owning more than 50% of the issuer’s common stock requires approval from a majority of the issuer’s independent directors.

Group Members’ beneficial ownership 2,328,652 shares Class A Common Stock, including shares issuable upon conversion of Class B, following the October 26, 2026 distribution
Share of total common stock deemed outstanding approximately 19.2% Group Members’ aggregate beneficial ownership following the distribution
Shared voting and disposition power 2,030,772 shares Class A shares issuable upon conversion of an equal number of Class B shares
Share of outstanding Class B Common Stock 89.7% Shares over which Group Members may be deemed to share voting and disposition power
Class A Common Stock outstanding 9,840,536 shares Immediately following the distribution
Class B Common Stock outstanding 2,264,754 shares Immediately following the distribution
Registration rights up to four occasions In the aggregate, subject to conditions
Standstill period 12 months Following the distribution
controlled company regulatory
"qualifies as a “controlled company” under the rules"
A controlled company is a publicly traded firm where one shareholder or a small group holds enough voting power to determine board members and major strategic choices. For investors this matters because control can speed decision-making and protect long-term plans, but it also raises the risk that majority owners will favor their own interests over minority shareholders, reducing outside oversight—like a family-owned restaurant that sold shares but the family still calls the shots.
Class B Stockholders’ Agreement regulatory
"The Group Members have executed a Class B Stockholders Agreement"
right of first offer regulatory
"will have a right of first offer and a tag-along right"
A right of first offer is a contractual agreement that requires an owner to offer an asset or stake to a designated party before marketing it to others; the holder gets the first chance to negotiate terms directly with the seller. For investors, it matters because it can limit who can buy or set the sale price path—like getting the first invitation to buy a sought-after item before it goes on general sale, protecting potential access or controlling competition.
tag-along right regulatory
"will have a tag-along right with respect to any proposed sale"
drag-along rights regulatory
"Drag-Along Rights"
A contractual right that lets majority owners require minority holders to sell their shares if the majority accepts an offer for the whole company. Think of it like roommates agreeing that if most decide to sell the house, everyone must sell at the same price and terms. For investors, it makes full-sale deals simpler and more attractive to buyers but can reduce bargaining power and exit flexibility for minority holders.
Standstill Agreement regulatory
"The Group Members have entered into a Standstill Agreement"
A standstill agreement is a contract in which one party agrees to pause certain actions — such as making new claims, enforcing debt remedies, or pursuing a takeover bid — for a set period so both sides can negotiate or restructure. Think of it as a temporary pause button that reduces immediate pressure and uncertainty; investors care because it can protect value, buy time for a deal or restructuring to be completed, and signal the likelihood and timing of future corporate developments.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MSGR shares did the Dolan group acquire in the spin-off?

The Group Members acquired and may be deemed to beneficially own an aggregate of 2,328,652 shares of Class A Common Stock, representing approximately 19.2% of the total common shares deemed outstanding.

How much MSGR Class B stock voting power does the group share?

The Group Members may be deemed to share voting and disposition power over 2,030,772 Class A shares issuable upon conversion of an equal number of Class B shares, representing 89.7% of outstanding Class B Common Stock.

What limits apply to the Dolan group's MSGR tender-offer acquisitions?

During the 12-month period following the distribution, the Group Members must obtain approval from a majority of MSG Rangers’ independent directors before acquiring common stock through a tender offer that results in the Group Members owning more than 50% of outstanding common stock.

Can MSGR holders require registration of their shares?

Under the Registration Rights Agreements, covered holders may, subject to conditions, require MSG Rangers to register the sale of some or all of their Class A shares, including shares issued upon conversion of Class B shares, on up to four occasions in the aggregate. They may also sell shares as part of certain registered offerings by the issuer, subject to conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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62477J102

(CUSIP Number)
Samantha H. Crispin
Baker Botts L.L.P., 30 Rockefeller Plaza
New York, NY, 10112
212-408-2500


Sarah J. Dodson
Baker Botts L.L.P., 30 Rockefeller Plaza
New York, NY, 10112
214-953-6585

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
10/26/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 1,524,550 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 1,118,271 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 1,884,305 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 1,907,608 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Deborah A. Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,245,972 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Patrick F. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 955,726 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Corby Dolan Leinauer disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 793,563 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Mary S. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 1,808,929 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Paul J. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,111,591 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,103,091 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,116,287 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 1,962,592 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 1,852,437 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,055,724 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,046,624 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,069,271 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,256,972 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,262,228 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Ryan Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,262,228 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Tara Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,252,801 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the CFD 2010 Grandchildren Trust FBO Descendants of Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,255,403 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,264,254 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Kathleen M. Dolan 2012 Descendants Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,260,253 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Marianne E. Dolan Weber 2012 Descendants Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,259,254 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the CFD 2021 GC Trust FBO Kevyn A. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D




Comment for Type of Reporting Person:
Excludes 2,259,254 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the CFD 2021 GC Trust FBO Tara E. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.


SCHEDULE 13D


James L. Dolan
Signature:/s/ James L. Dolan
Name/Title:James L. Dolan
Date:11/02/2026
Kathleen M. Dolan, individually and as Trustee of certain trusts described herein
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact
Date:11/02/2026
Marianne Dolan Weber
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact
Date:11/02/2026
Deborah A. Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:11/02/2026
Patrick F. Dolan
Signature:/s/ Dennis H. Javer
Name/Title:Dennis H. Javer as Attorney-in-Fact
Date:11/02/2026
Corby Dolan Leinauer, as a Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:11/02/2026
Mary S. Dolan, as a Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:11/02/2026
Paul J. Dolan, as a Trustee of certain trusts described herein
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact
Date:11/02/2026
Charles F. Dolan Children Trust FBO Kathleen M. Dolan
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Paul J. Dolan, Trustee
Date:11/02/2026
Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Charles F. Dolan Children Trust FBO Marianne Dolan Weber
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Matthew J. Dolan, Trustee
Date:11/02/2026
Charles F. Dolan Children Trust FBO James L. Dolan
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Paul J. Dolan, Trustee
Date:11/02/2026
Charles F. Dolan 2009 Family Trust FBO James L. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
Ryan Dolan 1989 Trust
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:11/02/2026
Tara Dolan 1989 Trust
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari as Attorney-in-Fact for Kathleen M. Dolan, Trustee
Date:11/02/2026
CFD 2010 Grandchildren Trust FBO Descendants of Kathleen M. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
Kathleen M. Dolan 2012 Descendants Trust
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Paul J. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Marianne E. Dolan Weber 2012 Descendants Trust
Signature:/s/ Richard Baccari
Name/Title:Richard Baccari, Trustee
Date:11/02/2026
CFD 2021 GC Trust FBO Kevyn A. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026
CFD 2021 GC Trust FBO Tara E. Dolan
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Mary S. Dolan, Trustee
Date:11/02/2026
Signature:/s/ Brian G. Sweeney
Name/Title:Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer, Trustee
Date:11/02/2026

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