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Fortune

Robert Gray

MSG Sports is splitting the Knicks and Rangers into two stocks, and history says spin-offs tend to beat IPOs

IPO Stock Market Jay Ritter NBA NYSE James Dolan Big Four Fortune NFL NHL

(Credit: Stephanie Keith/Getty Images)

Investors are watching how the New York Knicks perform today on two very different courts: the hardwood at Madison Square Garden, and the floor of the New York Stock Exchange farther downtown.

The Knicks tip off their drought-ending NBA championship defense tonight against LeBron James, who makes his debut with his new team, the Philadelphia 76ers. Resale tickets have averaged about $2,600 apiece on SeatGeek as fans clamor to see the team raise its first championship banner in 53 years. (The Knicks beat the San Antonio Spurs in five games in June—a title run worth at least $380 million to New York City.)

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