Bloomberg Business of Sports Instant Reaction: MSG Sports Considering Spinning Off New York Knicks, Rangers
Feb 18, 2026
Randall Williams, Bloomberg sports business reporter covering team valuations and ownership, breaks down MSG’s plan to explore spinning off the Knicks and Rangers. He highlights the huge valuation gap between the teams and their parent company. Discussion touches on scarcity-driven franchise value, private equity’s growing role, and why New York teams command premium prices.
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MSG’s Public Valuation Likely Falls Short
- MSG likely undervalues its marquee teams versus private-market estimates of combined value.
- Randall Williams says Knicks and Rangers combined may be worth $13–$14 billion while MSG trades near $7 billion.
Scarcity And Market Drive Team Valuations
- Premium franchises in limited markets command outsized valuations even without recent championships.
- Williams notes Knicks ~$10B and Rangers ~$3–4B because New York scarcity drives demand.
Factor Private Capital Into Ownership Plans
- Consider private equity and institutional capital as active buyers in modern sports deals.
- Williams advises recognizing private investors view franchises as an asset class tied to rising media rights and valuations.