Madison Square Garden Sports’ board of directors approved a plan to explore spinning off its hockey and basketball clubs. The parent company of the New York Knicks and Rangers said Wednesday that they will consider splitting the two franchises into separate publicly traded companies. Under the proposed plan, the Knicks and their G League club, the Westchester Knicks, would become one company while the Rangers and their minor league team, the Hartford Wolf Pack, would become another. MSG Sports said that there is no timeline in mind to complete the move and that it is not guaranteed to happen. It requires approval from the NBA and NHL, as well as other considerations.
This article originally appeared on Hoops Hype: Madison Square Garden splitting Knicks and Rangers into separate companies?