MSG Rangers Corp. (formerly MSGS Spinco, Inc.) filed an 8-K with the Securities and Exchange Commission on October 27, 2026, reporting the completion of its distribution from MSG Knickerbockers Corp., along with several governance and agreement disclosures tied to the spin-off.

Key Highlights

  • Distribution completed: On October 26, 2026, MSG Knickerbockers Corp. distributed all issued and outstanding shares of MSG Rangers Corp. to its stockholders.
  • Ratio: Each holder of MSG Knicks Class A or Class B common stock received one share of the corresponding Company class for every two shares held of record as of the October 20, 2026 record date.
  • Shares distributed: An aggregate of 9,794,568 shares of Company Class A Common Stock and 2,264,754 shares of Company Class B Common Stock were distributed, with fractional shares converted to cash.
  • Director RSU shares: An additional 46,005 shares of Company Class A Common Stock were distributed in respect of MSG Knicks non-employee director restricted stock units.
  • NHL Transfer Consent Agreement: On October 23, 2026, MSG Knicks, the Company, and certain subsidiaries entered into a Transfer Consent Agreement with the NHL, acknowledging that future ownership transfers of the New York Rangers, among other transfers, will require NHL consent.
  • Name change: The Company filed a Certificate of Amendment with the Nevada Secretary of State on October 26, 2026, officially changing its name from MSGS Spinco, Inc. to MSG Rangers Corp.
  • Executive Deferred Compensation Plan approved: The Board approved the MSG Rangers Corp. Executive Deferred Compensation Plan effective October 26, 2026, allowing eligible employees to defer base salary or bonus contributions, with deferrals and earnings described as "always 100% vested."

MSG Rangers Corp. Completes Distribution and Establishes Governance Structure

According to the filing, MSG Rangers Corp. became an independent public company on October 26, 2026, when MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp.) distributed all of its shares in the Company to eligible stockholders. The distribution ratio was one Company share for every two MSG Knicks shares held as of the October 20, 2026 record date, applicable to both Class A and Class B common stock. Any fractional shares were converted to cash and paid to stockholders. The Company's Class A Common Stock is listed on the New York Stock Exchange under the ticker symbol NYSE:MSGR.

In connection with the distribution, the filing reports that on October 23, 2026, the Company and MSG Knicks entered into a Transfer Consent Agreement with the National Hockey League. Under that agreement, the parties acknowledged that future transfers of ownership of the New York Rangers hockey club, changes in the Rangers' location, or certain other asset or ownership transfers, subject to exceptions, will require NHL consent. The Company parties and MSG Knicks parties also agreed to release the NHL entities from any claims against them, according to the filing.

The filing also discloses a series of governance actions taken on October 26, 2026. Alan D. Schwartz and Hans Vestberg were appointed to the Audit Committee, with Mr. Schwartz named as Chair. Stephen C. Mills and Mr. Vestberg were appointed to the Compensation Committee, with Joseph M. Cohen named as Chair. The Company also entered into employment agreements with James L. Dolan, David Granville-Smith, Paul DiCicco, and Jamaal T. Lesane, effective as of the distribution date. Additionally, the filing reports that the Board approved an Executive Deferred Compensation Plan that permits eligible employees to make elective salary or bonus deferrals, with no above-market returns and no Company contributions provided under the plan.

What Was Disclosed

MSG Rangers Corp. filed an 8-K disclosing the completion of its spin-off from MSG Knickerbockers Corp., the distribution of approximately 9.79 million Class A and 2.26 million Class B shares, an NHL Transfer Consent Agreement, board committee appointments, employment agreements, an Executive Deferred Compensation Plan, and a name change from MSGS Spinco, Inc.