MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp.) filed a Form 8-K on October 27, 2026, disclosing the October 26, 2026 distribution of the New York Rangers business to stockholders, a corporate name change, an NHL Transfer Consent Agreement signed October 23, 2026, and amended employment agreements for four senior officers.

Key Highlights

  • Rangers spin-off completed: On October 26, 2026, the registrant distributed all issued and outstanding shares of MSG Rangers Corp. to its stockholders, with each holder receiving one MSG Rangers share for every two shares held as of the October 20, 2026 record date.
  • Corporate rename effective: The registrant changed its legal name from Madison Square Garden Sports Corp. to MSG Knickerbockers Corp., effective 11:59 p.m. Eastern Time on October 26, 2026, and its Class A Common Stock now trades under the symbol MSGK on the New York Stock Exchange.
  • NHL Transfer Consent Agreement: On October 23, 2026, the registrant, MSG Rangers Corp., and certain subsidiaries entered into an agreement with the NHL requiring NHL consent for future ownership transfers of the Rangers, certain asset transfers, or location changes, subject to exceptions; the registrant and MSG Rangers parties also agreed to release the NHL entities from any claims against them.
  • One-time cash award to CEO: The Compensation Committee approved a $10,000,000 lump-sum cash award to Executive Chairman and CEO James L. Dolan, paid October 26, 2026, in recognition of his efforts in connection with the distribution.
  • Dolan employment agreement revised: The amended and restated agreement sets Mr. Dolan's annual base salary at not less than $1,016,000 and reduces the aggregate target value of his annual long-term awards to $4,953,000.
  • Spinco Business to be reported as discontinued operations: According to the filing, the historical financial results of the Rangers business will be reflected as discontinued operations in the registrant's consolidated financial statements beginning with the fiscal quarter ended December 31, 2026.

MSG Knickerbockers Completes Rangers Distribution and Restructures After Spin-Off

According to the filing, the distribution of MSG Rangers Corp. shares was completed on October 26, 2026, with holders of the registrant's Class A common stock (par value $0.01 per share) receiving one share of MSG Rangers Class A common stock (par value $0.01 per share) for every two shares held of record at the close of business on October 20, 2026. The same one-for-two ratio applied to holders of Class B common stock. MSG Rangers Corp., formerly known as MSGS Spinco, Inc., owns, directly or indirectly, the Rangers business previously owned and operated by the registrant.

The filing disclosed that the registrant and MSG Rangers Corp. entered into a Transfer Consent Agreement with the NHL on October 23, 2026. Under that agreement, the parties acknowledge that future transfers of Rangers ownership, the club's location, or certain other asset or ownership transfers - subject to exceptions - will require NHL consent. The registrant parties and MSG Rangers parties also agreed to release NHL entities from any claims against them.

Four senior officers received amended employment agreements on October 26, 2026, each acknowledging concurrent employment with MSG Rangers. In addition to the Dolan revisions noted above, Executive Vice President David Granville-Smith received an annual base salary of not less than $508,000 and an annual long-term award target of $1,079,500. CFO and Treasurer Paul DiCicco received an annual base salary of not less than $412,750 and a matching annual long-term award target of $412,750. Chief Legal Officer Jamaal T. Lesane received an annual base salary of not less than $635,000 and an annual long-term award target of $952,500. The filing also disclosed that pro forma financial statements giving effect to the distribution - covering the balance sheet as of June 30, 2026 and statements of operations for the fiscal years ended June 30, 2026, 2025, and 2024 - were filed as Exhibit 99.1.

What Was Disclosed

The filing covered the completed spin-off of the New York Rangers business into MSG Rangers Corp., the corporate renaming to MSG Knickerbockers Corp. under NYSE:MSGK, an NHL Transfer Consent Agreement, a $10,000,000 one-time cash award to the CEO, and amended employment terms for four officers.