Madison Square Garden Sports (MSGS) filed a Form 10 with the US Securities and Exchange Commission for the proposed spin-off of its New York Rangers business from its New York Knicks business, the company said Friday.

The transaction would create two publicly traded companies: MSG Knickerbockers, comprising the Knicks and Westchester Knicks, and MSG Rangers, comprising the Rangers, Hartford Wolf Pack and MSG Training Center.

The tax-free spin-off is expected to distribute 100% of the Rangers company's common stock pro rata to MSG Sports shareholders.

James L. Dolan is expected to serve as executive chairman and chief executive officer of both companies following the separation, MSG Sports said.

The company currently expects to complete the spin-off by the end of October 2026, subject to conditions including any required league approval, receipt of a tax opinion from counsel and board approval.