New York Knicks, Rangers officially split into separate publicly traded companies

New York Knicks fans can now buy a piece of their beloved team without owning a slice of the Rangers — and Blueshirts fans can do the same. The two Madison Square Garden franchises officially split into separate publicly traded companies on Tuesday, giving investors a chance to put their money behind either team. The Knicks’ parent company now trades on the New York Stock Exchange under the ticker MSGK, while the Rangers have their own stock under the symbol MSGR. James Dolan, who is retaining control of both, collected a $10 million cash bonus for his efforts in pulling off the breakup. The one-time award, approved Friday and paid Monday, recognized his “significant efforts and leadership” in completing the spinoff, according to a securities filing. The payout was approved by a three-member compensation committee whose members have no Dolan family ties, according to the document.

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