US EditionPublished • loading... • Updated
Madison Square Garden Sports Shares Hit Record High as It Explores ...
The spin-off aims to provide shareholders clearer asset views and growth potential, with shares rising 13.69% to a new 52-week high, MSGS said.
- On Wednesday, the Board of Directors of Madison Square Garden Sports approved exploring a spin-off of the Knicks and Rangers into two public companies, the company said.
- Under the proposed structure, the Knicks company would include the NBA franchise and the Westchester Knicks G League affiliate, while the Rangers company would encompass the NHL club and Hartford Wolf Pack, both with storied histories.
- Investors pushed Madison Square Garden Sports Corp. shares higher on Wednesday, reaching a new 52-week high as the stock traded at $340.00, well above its 20-day SMA and 200-day SMA , showing strong momentum.
- If the plan proceeds, both Class A and Class B common stock holders would receive a pro-rata distribution of 100% of the new company's common stock, pending NBA and NHL approvals, a tax opinion, and final board sign-off.
- Because ETFs hold large positions, Madison Square Garden Sports faces volatility risks from fund flows as Citigroup and JP Morgan raised targets to $337.00 and $305.00 ahead of the May 1, 2026 update.
Insights by Ground AI
14 Articles
14 Articles
Madison Square Garden Sports Considers Major Spin-Off
Madison Square Garden Sports Corp's board has unanimously approved a plan to explore a possible spin-off. The potential restructuring aims to separate the New York Knicks basketball franchise from the New York Rangers hockey business.
·India
Read Full Article
Coverage Details
Total News Sources14
Leaning Left0Leaning Right1Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
C 83%
R 17%
Factuality
To view factuality data please Upgrade to Premium
