Source per Mike Vorkunov of The Athletic:

MSG Sports will spin off the New York Knicks and Rangers into separate publicly traded companies, after its board approved the move. Transaction will be completed on Oct. 26.

MSG Sports will be MSG Knickerbockers Corp. It’ll own the Knicks and Westchester Knicks.

MSG Rangers Corp. will be comprised of the Rangers, MSG training facility and Hartford Wolf Pack.

The transaction will be final after league approvals and other conditions.

Former Knicks team president and head coach Isiah Thomas will be on the MSG Knickerbockers Corp. board of directors. Thomas is also on The Sphere board, and also on the board of Mat Ishbia’s UWM.

Former Knicks president Steve Mills will sit on the MSG Rangers Corp board. He had been on the MSG Sports board.

Per SEC filing:

The following individual has been appointed, effective as of the Distribution date, to the Board of Directors of the Registrant as a director elected by holders of Registrant Class B Common Stock to fill the vacancy after giving effect to the resignation of the three directors elected by holders of Registrant Class B Common Stock described above and the decrease in the size of the Board of Directors:

Isiah L. Thomas III, age 65, has been the Chairman and Chief Executive Officer of Isiah International, LLC, a holding company with interests in a diversified portfolio of businesses, since 2011. Mr. Thomas has served as a Commentator and Analyst for NBA TV, a sports broadcasting channel, since 2014 and Turner Sports, a sports broadcasting channel, since 2012. Mr. Thomas has also served as Chief Executive Officer and Executive Chairman of One World Products, Inc., (transitioning to Isiah Enterprises, Inc.) since 2020, leading its transformation into a sustainable materials and advanced manufacturing enterprise focused on industrial compounding, sustainable plastics, automotive applications, packaging and advanced manufacturing solutions following its acquisition of Eco Bio Plastics and the development of renewable material technologies. He previously served as the President & Alternate Governor of the New York Liberty of the Women’s National Basketball Association from 2015 to February 2019, the Head Basketball Coach at Florida International University, a higher education institution, from 2009 to 2012, the General Manager, President of Basketball Operations and Head Coach of the New York Knicks of the NBA, which is owned by the Registrant, from 2006 to 2008, the Head Coach of the Indiana Pacers of the NBA from 2000 to 2003, the Owner of the Continental Basketball Association from 1998 to 2000, Minority Owner & Executive Vice President of the Toronto Raptors of the NBA from 1994 to 1998 and point guard for the Detroit Pistons of the NBA from 1981 to 1994. Mr. Thomas has served as a director of StratCap Digital Infrastructure REIT, Inc. since July 2023, UWM Holdings Corporation, a residential and wholesale mortgage lender, since January 2021, Sphere Entertainment since April 2020, Get in Chicago, an organization focused on stopping gun and related violence in Chicago, since 2013 and he is the Founder of Mary’s Court Foundation, a charitable organization established in 2010. Mr. Thomas also serves as a director for ForbesBLK, a non-profit organization for black entrepreneurs and professionals, and Strategic Wireless Infrastructure Fund II, Inc., a private fund. Mr. Thomas graduated from Indiana University and received a Master’s degree in Education from the University of California at Berkeley.