New York Knicks and Rangers Split Into Two Public Companies: Dolan Gets $10 Million Bonus; Forbes Values Teams at $12.6 Billion and $4 Billion
NEW YORK, New York County, New York — Madison Square Garden Sports completed its spinoff on October 27, making the New York Knicks and the New York Rangers two separate publicly traded companies: the Knicks' parent trades on the New York Stock Exchange under the ticker MSGK, and the Rangers under MSGR. Both teams will continue to play at Madison Square Garden, with leases running to 2055.
James Dolan retains control of both companies and serves as executive chairman and CEO of each; for leading the spinoff he received a one-time $10 million bonus, approved last Friday and paid on Monday. Brokerage BTIG had noted that the combined company traded at a discount of roughly 50% to the teams' private valuations.
Forbes values the Knicks at $12.6 billion and the Rangers at $4 billion. The Rangers posted revenue of $337.3 million in the fiscal year ended June 30, with an adjusted operating loss of $18.9 million.
Source: GSM · USA
Source: GSM · USA (original Chinese edition)
Photo: 图：麦迪逊广场花园球馆外景（Deans Charbal 摄，CC BY-SA 4.0，Wikimedia Commons）。Exterior of Madison Square Garden in Manhattan (by Deans Charbal, CC BY-SA 4.0, via Wikimedia Commons).
