Originally posted on Pro Sports Daily  |  Last updated 7/20/12

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 stock-market path of MSG stock during Lin's time with the Knicks.

When Lin made his first start for the Knicks in early February, there was a media stir and MSG stock rose slowly and incrementally for a few days.

But when Linsanity began to take hold in mid-February, the stock spiked dramatically, according to the New York Observer.

The stock remained high in March when Lin was injured, when there was little thought that Lin would be anywhere but in New York next season.

But on July 5, the very day that reports surfaced that Lin had agreed to terms on an offer sheet with the Rockets, the stock began dropping, and it has been falling ever since.

It was noteworthy that 150 media members attended Lin's official introduction to the Houston media this week. That was considerably more than attended the introductory media conferences when either Roger Clemens or Andy Pettitte joined the Houston Astros.

MORE FROM YARDBARKER:
The best pick from every NBA Draft
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Houston denies report that Art Briles is candidate for coaching position

Draymond Green defends himself again after kicking Harden

WATCH: Video of Pirates Jung Ho Kang car crash that led to arrest

Rob Gronkowski placed on IR, ending his season

Everything you need to know for CFB Championship Week

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Steve Kerr admits using marijuana to treat chronic back pain

WATCH: Huskies, Buffaloes go back-to-back with amazing plays

Rolando McClain suspended indefinitely by NFL

Helfrich, Kelly spoke about possibility of Kelly returning to Oregon

Paul Maurice: Game plans won’t work trying to stop McDavid

Report: Nats considering Ian Desmond reunion

Best of Yardbarker: CFB Championship Week chaos

Five teams on upset alert in NFL Week 13

Sporting life: Gifts for real fans (that aren't ugly NFL sweaters)

New faces help Spurs continue unparalleled success

The Pirates prepare for rarely chartered waters in dealing Andrew McCutchen

The 10 best sports docs available for streaming

Box Score 12/2: High-kicking it into the weekend

Jeff Fisher is the unkillable cockroach of NFL head coaches

Four teams to keep an eye on at the 2017 Winter Meetings

Eugene Monroe opens up about NFL’s drug policy

Ideal MLB offseason blueprint for every team

Eight NFL teams facing must-win games in Week 13

NBA News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Sporting life: Gifts for real fans (that aren't ugly NFL Christmas sweaters)

New faces help Spurs continue unparalleled success

The Pirates prepare for rarely chartered waters in dealing Andrew McCutchen

The 10 best sports docs available for streaming

Everything you need to know for CFB Championship Week

Jeff Fisher is the unkillable cockroach of NFL head coaches

Four teams to keep an eye on at the 2017 Winter Meetings

Porzingis reshapes Knicks by elevating his game

TailGreater: Your championship week playlist is set

Clarification: Why the rules near the crease need to be fixed

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker