TOM HUDSON: Finally tonight, one player, one incredible break and one
heck of a winning streak adds all up to big profits for shareholders of
Madison Square Garden (NASDAQ:MSG). In tonight`s “Beyond the Scoreboard,”
Rick Horrow`s take on “lin-sanity.”
RICK HORROW, CEO, HORROW SPORTS VENTURES: Lin-sanity, the meteoric
rise of Knicks` point guard and Harvard economics graduate Jeremy Lin, has
taken New York by storm. The Knicks have won five straight since Lin
entered the starting lineup a week and a half ago. But as big of an impact
as Lin is making on the court, he`s making an even bigger impact on the
Knicks` bottom line. Shares of Madison Square Garden (NASDAQ:MSG), the
company that owns the Knicks, hit an all-time high this week. That`s
despite seeing fiscal second quarter revenues fall 14 percent and profits
drop 22 percent.
The 52-week low for MSG stock came on October 4, when the entire NBA
canceled preseason happened, thanks to the NBA lockout. It`s amazing the
difference a few months and a few wins can make. In terms of helping MSG`s
stock price and shareholders, Lin might just be getting started. TV ratings
on MSG network are up 52 percent in the four games since Lin became a
starter. And the renewed interested in the Knicks couldn`t have come at a
better time for MSG. The company and Time Warner (NYSE:TWX) Cable are
embroiled in a carriage dispute that has kept the Knick games off the air
for cable subscribers. It`s just too bad Lin`s contract with the Knicks
doesn`t include stock options. I`m Rick Horrow.
GHARIB: Tom, there`s a love affair with Jeremy Lin. New York is very
happy with him.
HUDSON: From finance to shareholders, you can bet on it.