Sporticast: How to Interpret a Knicks/Rangers Spinoff

On the 553rd Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including MSG’s plans to separate the New York Knicks and New York Rangers into independent publicly-traded companies.

MSG Sports on Monday filed a Form 10 Registration Statement with the SEC, the latest step in its plan to spin off its NHL team from its NBA team. The push comes amid an open question about how the public markets value both franchises. MSG Sports, which currently houses both teams and their minor league affiliates, has a market cap of about $8.5 billion, while Sportico values the Knicks and Rangers alone at a combined $13.5 billion.

The hosts also debate what this might mean for the future of the two franchises. This restructuring would make it easier to take on minority investment in either team. It also might also make it easier to sell the Knicks or the Rangers, and a change to the federal tax code is impacting one team a lot more than the other.

Next, the hosts talk about a work stoppage on the Long Island Rail Road, the country’s largest commuter rail system. The shutdown started on the weekend of a Mets-Yankees subway series, and with the Knicks set to host Game 1 of the Eastern Conference finals on Tuesday night. They discuss how much added leverage the unions may receive via frustrated sports fans.

Next they talk about the potential relocation of Gotham FC, which is in advanced talks to move from New Jersey to the new NYCFC stadium in Queens in 2028. It’s a move that will impact many Gotham fans, and could be a nod toward the continued expansion of the league.

They close by talking about the upheaval in youth and college hockey.

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