Madison Square Garden Sports Corp.

Madison Square Garden Sports Corp. is exploring a potential tax-free spin-off of its New York Rangers business from its New York Knicks business, aiming to create two distinct publicly traded companies. For the third quarter ended March 31, 2026, the company reported a net loss of $19.98 million, an increase from the $14.23 million loss in the prior year's quarter, despite a slight revenue increase to $432.2 million. Operating income significantly declined, and the company also incurred restructuring charges.

Madison Square Garden Sports Corp. reported fiscal third quarter 2026 financial results, with revenues increasing 2% to $432.2 million. However, operating income significantly decreased by 94% to $2.0 million, and adjusted operating income fell 72% to $10.3 million, primarily due to higher direct operating expenses. The company also announced it is exploring a potential spin-off to separate its New York Knicks and New York Rangers businesses into distinct public companies to create long-term shareholder value.

Madison Square Garden Sports Corp. announced the appointment of Paul DiCicco as its new Executive Vice President, Chief Financial Officer, and Treasurer, effective May 11, 2026. Mr. DiCicco brings extensive experience from his previous roles as CFO for Stephen Gould Corporation and various senior finance positions at Harris Blitzer Sports and Entertainment LLC. His employment agreement includes an annual base salary of at least $650,000, an annual target bonus of not less than 100% of his base salary, and long-term incentive awards with a target value of at least $650,000.