Madison Square Garden Sports has filed a registration statement with regulators for a new company to manage the New York Rangers business separately from its New York Knicks operations.

The company is working on a deal to create two distinct public entities to manage its hockey and championship-winning basketball teams.

The current iteration of the company would be called the MSG Knickerbockers while a new company would be formed and called MSG Rangers. The latter company would also include the Hartford Wolf Pack, a minor league ice hockey team, and MSG Training Center in Westchester County.

The spinoff is expected to be structured as tax-free for all company shareholders. Upon completion of the separation, shareholders will receive a pro-rata distribution of the new company's shares.

The deal is expected to be completed by the end of October.