MSGS explores Rangers spin-off; revenue +11% to $1.15B, net income $7.8M in FY2026

Filed August 13, 2026 · Period ending June 30, 2026 · Compared to 10-K Aug 12, 2025 · ~2 min read

Key Changes

• high

  Board authorized exploration of a Rangers spin-off into a separate publicly traded entity (MSGS Spinco, Inc.), with a 1-for-2 distribution to existing stockholders. Completion subject to board approval, league approval, tax opinion, and SEC registration; no assurance it will close.

  Notes: Rangers Distribution verify on EDGAR →
• high

  NBA revenue-sharing provision rose $28.2M (74%) to $66.1M in FY2026, reflecting higher Knicks net revenues relative to other teams. Luxury tax expense increased $6.4M (17%) to $44.4M as the Knicks remained a luxury tax payer for the 2025-26 season.

  MD&A: NBA Revenue Sharing & Luxury Tax verify on EDGAR →
• medium

  Rangers confirmed as a top-eleven NHL revenue earner and expected to contribute to the new NHL CBA revenue-sharing plan starting 2026-27, funded 50% by top-eleven teams, then playoff gate receipts (35% first round, 50% later rounds), then central NHL sources.

  MD&A: NHL CBA Revenue Sharing verify on EDGAR →