As of the 2007-08 season, the Rangers are owned by Madison Square Garden L.P. whose managing partner is James Dolan. Madison Square Garden L.P. is a subsidiary of Cablevision System Corporation and runs the Garden and the teams that play there which include the Rangers, Knicks of the NBA, and Liberty of the WNBA.
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Charles Wang is the owner of the New York Islanders. He became a part owner in 2000 and later became sole owner after buying out partner Sanjay Kumar in 2004. He acquired his welth as the co-founder of Computer Associates.
nobody owns it team owners operate together and are in an organization they have there own type of government