The New York Rangers is a pro ice hockey team in the National Hockey League. They won the Stanley Cup by beating the Vancouver Canucks in 1994. It is mentioned in the show that Debra used to do PR work for the Rangers before she married Ray.
Also, in a scene taking place in the twins bedroom, the New York Rangers team logo is seen on the boys' bedspreads.
One notable player from the New York Rangers was Mark Messier. He never actually appeared in the show, but his name was mentioned in an episode.