Originally written on Pro Sports Daily  |  Last updated 11/18/14
New York Knicks officials and the casual fan may have had trouble gauging Jeremy Lin's value to the Knicks, but the stock market makes it pretty clear Lin was quite an asset. Since the Knicks declined to match the Rockets offer sheet, letting Lin go to Houston, Madison Square Garden stock has dropped $93 million, according to CNBC sports business reporter Darren Rovell. The rise and fall of MSG's stock has closely followed the rise and fall of Linsanity. When Lin made his first start for the Knicks Feb. 6, MSG shares traded at $29.49. On July 5, the stock had risen more than 30 percent up to $38.80. Since then, as reports that Lin might leave the Knicks increased, shares have dropped to $35.50, an 8.5 percent fall. Because of the luxury tax the Knicks would have had to pay in the third year of Lin's contract if they decided to match the Rockets' offer, it was estimated the Knicks would have had to pay $50 million to retain Lin. That seems like a lot, until you follow the ...
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