MSG Sports to Spin Off Knicks and Rangers; Isiah Thomas Joins Knicks Board

MSG Sports has approved a plan to spin off the New York Knicks and New York Rangers into separate publicly traded companies, with the transaction expected to be completed on October 26. Additionally, former Knicks team president and head coach Isiah Thomas will join the board of directors for MSG Knickerbockers Corp., the entity that will own the Knicks.