Originally posted on The Mark Graham Sports Blog  |  Last updated 7/20/12
When Jeremy Lin left the Big Apple for the Lone Star state, it changed the entire dynamic of the New York Knicks as they now prepare without the budding NBA star. But the MSG stock might take some time to recover. A lot of time. According to reporter Darren Rovell, in the last four days, the MSG stock has lost $93 million in value. On Wednesday, the stock lost one percent alone. When Jeremy Lin made his first start with the Knicks back in February, the stock was trading at $29.49 and thanks to "Linsanity", the stocks soared to a record high of $38.80. Since Lin signed the offer sheet with the Houston Rockets, MSG shares fell to $35.50, an 8.5 percent fall. Knicks owner James Dolan said that he was betrayed by Lin when he signed the offer sheet by the Rockets after the offer was re-structured. Now it seems as if Dolan has betrayed the shareholders.
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