MSG Rangers

MSG Rangers (Ticker: MSGR US) operates the New York Rangers professional ice hockey team. Its business also includes the Hartford Wolf Pack and the MSG Training Center.

The Rangers play at Madison Square Garden under a long-term licence agreement with MSG Entertainment. Revenue sources include ticket sales, national and local media rights, sponsorships, premium hospitality, merchandise, and food and beverage sales.

MSG Rangers is being separated from its parent, Madison Square Garden Sports. The distribution is scheduled for October 26, 2026; eligible shareholders are to receive one MSG Rangers share for every two corresponding MSG Sports shares. Madison Square Garden Sports is to continue as MSG Knickerbockers Corp. (MSG Knicks), comprising the New York Knicks and the Westchester Knicks. The scheduled regular-way trading date for MSG Rangers is October 27, 2026, on NYSE. An analyst estimates its post-spin equity value at approximately $2.50 billion; this is an estimate, not a confirmed post-separation trading value.