MSG Rangers shares jump 28% in first weeks of trading as separate public company
After the Rangers and Knicks were separated into two distinct publicly traded entities in late October, Rangers shares rose 28% in the first eight days of independent trading, while Knicks shares gained 4.6%, according to Sportico. The two franchises reported combined first-quarter revenue of $45.5 million, with the Rangers accounting for $14.1 million, and a combined operating loss of $25.5 million. Despite the stock gains, both teams continue to trade at deep discounts relative to their private-market valuations — the Knicks at 33% below and the Rangers at 40% below Sportico's most recent figures. A Wolfe Research analyst cited an impending tax code change that would raise the Rangers' annual tax burden by an estimated $17 million as a reason the team may become a take-private candidate, most likely involving the Dolan family.
The real upside scenario for MSGR is a company sale or take-private,
Why it matters
For service providers: Player agencies and advisors should be aware that rising tax liabilities could affect how the Rangers manage their roster spending going forward.
For brands: Sponsors and business partners of the Rangers and Knicks should monitor the ownership and financial structure of both franchises, as a potential sale or take-private could shift organizational priorities.
For media: Broadcasters and media rights holders may be affected if a change of control or take-private transaction alters how either franchise negotiates future deals.
Read the full story at Sportico
Sources
- Sportico · Kurt Badenhausen: Rangers Stock Up 28% in First 8 Days Since Split From Knicks