MSGS explores tax-free spin-off of Knicks from Rangers; CFO Mink to depart

Madison Square Garden Sports Corp.

Board unanimously approved exploration of a tax-free spin-off splitting New York Knicks and Rangers into two public companies.
Completion subject to league approvals, tax opinion, and board approval; no assurance the spin-off will occur.
CFO Victoria Mink will leave the Company; will continue during transition period to assist with spin-off.
Mink's separation not due to disagreement with auditors or management on accounting matters; severance per employment agreement.
Spin-off would result in pro-rata distribution of 100% of new company stock to MSGS shareholders.

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