SEC FORM 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:		3235-0287
Expires:	December 31, 2014
Estimated average burden
hours per response:		0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person ^*

DOLAN JAMES LAWRENCE

(Last)

(First)

(Middle)

TWO PENN PLAZA

(Street)

NEW YORK

10121

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MSG Rangers Corp. [ MSGR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Executive Chairman / CEO / Member of 13(d) Group

3. Date of Earliest Transaction (Month/Day/Year)
10/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.01 per share	10/20/2026		J⁽¹⁾	V	100 ⁽¹⁾	D	⁽¹⁾	0 ⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class A Common Stock	10/20/2026		J⁽¹⁾	V	9,794,568 ⁽¹⁾	A	⁽¹⁾	9,794,568 ⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class A Common Stock	10/26/2026		J⁽¹⁾		9,794,568 ⁽¹⁾	D	⁽¹⁾	0 ⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class A Common Stock	10/26/2026		J⁽²⁾	V	102,460 ⁽²⁾	A	⁽²⁾	102,460 ⁽³⁾ ⁽⁴⁾	D
Class A Common Stock	10/26/2026		J⁽⁵⁾	V	2,505 ⁽⁵⁾	A	⁽⁵⁾	2,505 ⁽⁴⁾	I ⁽⁶⁾ ⁽⁷⁾	By Spouse
Class A Common Stock	10/26/2026		J⁽⁵⁾	V	245 ⁽⁵⁾	A	⁽⁵⁾	245 ⁽⁴⁾	I ⁽⁸⁾	By Minor Child and Household Member

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	⁽¹⁾	10/20/2026		J⁽¹⁾	V	2,264,754 ⁽¹⁾		⁽⁹⁾	⁽⁹⁾	Class A Common Stock	2,264,754	⁽¹⁾	2,264,754 ⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class B Common Stock	⁽¹⁾	10/26/2026		J⁽¹⁾			2,264,754 ⁽¹⁾	⁽⁹⁾	⁽⁹⁾	Class A Common Stock	2,264,754	⁽¹⁾	0 ⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class B Common Stock	⁽¹⁰⁾	10/26/2026		J⁽¹⁰⁾	V	25,725 ⁽¹⁰⁾		⁽⁹⁾	⁽⁹⁾	Class A Common Stock	25,725 ⁽¹⁰⁾	⁽¹⁰⁾	25,725 ⁽⁴⁾	D
Restricted Stock Units	⁽¹¹⁾	10/26/2026		J⁽¹²⁾	V	3,244 ⁽¹²⁾		⁽¹³⁾	09/15/2027	Class A Common Stock	3,244 ⁽¹²⁾	$ 0	3,244 ⁽¹²⁾	D
Restricted Stock Units	⁽¹¹⁾	10/26/2026		J⁽¹²⁾	V	6,509 ⁽¹²⁾		⁽¹⁴⁾	09/15/2028	Class A Common Stock	6,509 ⁽¹²⁾	$ 0	6,509 ⁽¹²⁾	D
Restricted Stock Units	⁽¹¹⁾	10/26/2026		J⁽¹²⁾	V	4,875 ⁽¹²⁾		⁽¹⁵⁾	09/15/2029	Class A Common Stock	4,875 ⁽¹²⁾	$ 0	4,875 ⁽¹²⁾	D

Explanation of Responses:

1. Relates to the spin-off of MSG Rangers Corp. (formerly MSGS Spinco, Inc., and referred to herein as "MSGR") from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp., and referred to herein as "MSGK"). To effect the spin-off, on October 20, 2026, the issued and outstanding common stock of MSGR was recapitalized into MSGR's Class A common stock ("Class A Common Stock") and MSGR's Class B common stock ("Class B Common Stock") in a transaction exempt under Rule 16b-7. On October 26, 2026, MSGK distributed one share of Class A Common Stock and Class B Common Stock to its stockholders for every two shares of MSGK Class A common stock and MSGK Class B common stock, respectively (the "Distribution"), in a transaction exempt under Rule 16a-9.

2. Represents Class A Common Stock received in connection with the Distribution in a transaction exempt under Rules 16a-9 and 16b-3.

3. Includes 208 shares held jointly with spouse.

4. Reflects a transfer of shares previously owned directly by MSGK and its subsidiaries exempt under Rule 16a-13.

5. Represents Class A Common Stock received in connection with the Distribution in a transaction exempt under Rule 16a-9.

6. Securities held directly by Reporting Person's spouse and indirectly by Reporting Person.

7. Reporting Person disclaims beneficial ownership of these securities and this report shall not be deemed to be an admission that he is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, the beneficial owner of such securities.

8. Reporting Person disclaims beneficial ownership of all shares of MSGR beneficially owned or deemed to be beneficially owned by his minor children and household members, and this filing shall not be deemed an admission that Reporting Person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, the beneficial owner of such securities.

9. Class B Common Stock is convertible at the option of the holder on a share for share basis into Class A Common Stock.

10. Represents Class B Common Stock received in connection with the Distribution in a transaction exempt under Rules 16a-9 and 16b-3.

11. Each restricted stock unit ("RSU") is granted under the MSGR 2026 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof.

12. Reflects the acquisition of RSUs in connection with the Distribution in a transaction exempt under Rules 16a-9, 16b-6 and 16b-3. Reporting Person received one MSGR RSU in respect of every two MSGK RSUs.

13. Pursuant to the terms of Reporting Person's MSGK RSU award dated August 29, 2024, the RSUs are scheduled to vest and settle on September 15, 2027.

14. Pursuant to the terms of Reporting Person's MSGK RSU awards dated August 21, 2025, the RSUs are scheduled to vest and settle in two equal installments on September 15, 2027 and September 15, 2028.

15. Pursuant to the terms of Reporting Person's MSGK RSU award dated August 26, 2026, the RSUs are scheduled to vest and settle in three equal installments on September 15, 2027, September 15, 2028 and September 15, 2029.

	/s/ James L. Dolan	10/28/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.