Madison Square Garden Sports Corp. (MSGS) · Oct 27, 2026 · Exec change
Shared CFO retained — One CFO remains employed by both post-spin companies
MSG Sports’ executive change keeps Paul DiCicco as CFO across both post-spin companies, with lower Knicks-side pay and explicit conflict waivers.
MSG Sports is executing the planned separation of its Knicks and Rangers businesses into two public companies: MSG Knickerbockers will hold the Knicks, while MSG Rangers will hold the Rangers and related hockey assets. The split was already approved for October 26, 2026, so this filing is implementation detail rather than a surprise.
The key continuity is that one CFO will serve both companies. Paul DiCicco’s amended Knicks-side agreement says he will be simultaneously employed by MSG Rangers and that his Rangers responsibilities will prevent him from devoting substantially all of his time to the Knicks business. 〔0〕 The arrangement preserves centralized finance leadership during the separation, but it also formalizes a split-management structure rather than giving either company a fully dedicated CFO.
The filing turns the expected overlap into an explicit governance waiver. MSG Knickerbockers acknowledges that DiCicco’s dual roles create potential conflicts and agrees that those responsibilities, and good-faith actions taken to satisfy both companies, will not constitute a breach or “Cause.” 〔1〕 That reduces employment risk for the executive, while making clear that the new companies will rely on their broader overlap policy to manage competing duties.
The compensation is being allocated between the two companies rather than simply carried over unchanged. The Knicks-side base salary is amended to not less than $412,750, replacing a $650,000 reference in the prior agreement, and same-day services for both companies are capped at $5,000 in aggregate. 〔2〕 This looks like an allocation mechanism for shared work, not a standalone pay cut: the filing says separate compensation will be provided by MSG Rangers.
Bottom line: This filing makes the post-spin operating model concrete: DiCicco remains a shared CFO, with compensation and conflict rules divided between the two companies. It matters for governance and execution, but mostly confirms an arrangement already implied by the planned separation rather than changing the business outlook.
Separate MSG Rangers employment agreement and post-spin reporting
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