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Saturday, December 20, 2014

Jeremy Lin helps drive Madison Square Garden stock price to new high

We don’t need statistics to tell us that there is a Jeremy Lin sensation sweeping the nation. Turn on your TV or hop on Twitter. Not an hour of Sportscenter passes without a mention of Lin and I highly doubt you could visit the Twitter pages of 20 basketball reporters without seeing words like “Linsanity” and “Linning.” You still want numbers? We’ve got those, too.

According to Bloomberg, shares in the Madison Square Garden Co. have climbed to a record high since Lin took the team over and sparked the Knicks’ winning streak. Shares have climbed 6.2 percent to $31.15 since the day before the winning Linning streak began on Feb. 3. In addition, Lin has the NBA’s best selling jersey over the past week and Knicks merchandise sales are higher than any other team in the league during that span.

Lin is the fuel that is powering the NBA at the moment, and why shouldn’t he be? He’s a Harvard graduate who was about to be cut for a third time just before he became one of the biggest superstars in the league. On top of that, he’s humble enough to sleep on his brother’s couch while he earns more financial stability. Considering he has almost single-handedly given a boost to the Madison Square Garden Co., I’m guessing a pay day big enough to buy him his own apartment should be coming for Jeremy in the very near future.



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