MSG loses $90 million in value since the end of linsanity

[bluechox2]

Im happy to see this, dolan can suck it

[It's A VC3!!!]

Lin should have been re-signed despite his salary. James should have predicted the backlash of letting Lin go. I think there's too many people blaming Dolan and not Lin for not negotiating a contract with the Knicks prior to accepting a Ludacris contract.

[Rekindled]

Lin should have been re-signed despite his salary. James should have predicted the backlash of letting Lin go. I think there's too many people blaming Dolan and not Lin for not negotiating a contract with the Knicks prior to accepting a Ludacris contract.

it was never about money tho.

dolan held a personally grudge against Lin, that's why he got rid of him

[WhySoInsecure?]

Im happy to see this, dolan can suck it

It's only the stock, if the season starts and they're winning it will go back up. The stock price doesn't really mean much to Dolan if he's not planning on selling his shares.

[bluechox2]

It's only the stock, if the season starts and they're winning it will go back up. The stock price doesn't really mean much to Dolan if he's not planning on selling his shares.

i know, but if lin was matched, id expect those stocks to soar even high

[bleedinpurpleTwo]

how did they lose $90 million. The new TV contract was already executed and tickets already sold out prior to losing Lin. Must be advertising?

[PejaNowitzki]

how did they lose $90 million. The new TV contract was already executed and tickets already sold out prior to losing Lin. Must be advertising?

http://lmgtfy.com/?q=how+the+stock+market+works

[It's A VC3!!!]

it was never about money tho.

dolan held a personally grudge against Lin, that's why he got rid of him

I don't think it's accurate to say " it's not about the money" only one team would pay Lin 15 million in one year. That number set a lot of people off. James frustration with Lin was a huge factor too. But the money certainly played a role.

It's hilarious how a lot of Knick fans aren't even true fans of the Knicks but rather NY fanboys. To lose a hundred million because of one player is ridiculous. I could have stopped being a fan of the nets when they lost my two favorite players of all time in vc and kidd. It's absurd the amount of backlash and losses the Knicks are suffering because of Lin.

[brantonli]

how did they lose $90 million. The new TV contract was already executed and tickets already sold out prior to losing Lin. Must be advertising?

Wow I'm surprised, you know how the stock market works? MSG's stock went from $29.32 pre-Linsanity and traded at $36, I think it's now down to $35.8 It's that their market cap has declined by $45 million (where did $90 mil figure come from?)

[PejaNowitzki]

It's only the stock, if the season starts and they're winning it will go back up. The stock price doesn't really mean much to Dolan if he's not planning on selling his shares.

Yeah but it means something to all the other shareholders. MSG isn't a privately-owned company, you can bet Dolan is getting a lot of heat for ****ing them over, albeit temporarily. As the Executive Chairman of MSG, he had a fiduciary responsibility to make decisions in the best fiscal interest of the company and in this situation he seems like he's harboring more of a grudge than anything else. It'd be different if Dolan owned the Knicks separately, apart from MSG but they are all packaged together.

[Warners0]

Link or Go away

[fatboy11]

Yeah but it means something to all the other shareholders. MSG isn't a privately-owned company, you can bet Dolan is getting a lot of heat for ****ing them over, albeit temporarily. As the Executive Chairman of MSG, he had a fiduciary responsibility to make decisions in the best fiscal interest of the company and in this situation he seems like he's harboring more of a grudge than anything else. It'd be different if Dolan owned the Knicks separately, apart from MSG but they are all packaged together.

Especially after it was said that they would match all offers up to one billion dollars.

All the talk of the luxury tax impact in the 3rd year is overblown because we have no idea what the payroll would look like then. Chandler, Stoudemire and Anthony are all expirers that season. Easy to move.

[bluechox2]

Wow I'm surprised, you know how the stock market works? MSG's stock went from $29.32 pre-Linsanity and traded at $36, I think it's now down to $35.8 It's that their market cap has declined by $45 million (where did $90 mil figure come from?)

RT @fivethirtyeight: So far this week: MSG (Knicks) stock has underpeformed market by 3.3% on Lin news. Equivalent to $90m in lost mark ...

[PejaNowitzki]

Especially after it was said that they would match all offers up to one billion dollars.

All the talk of the luxury tax impact in the 3rd year is overblown because we have no idea what the payroll would look like then. Chandler, Stoudemire and Anthony are all expirers that season. Easy to move.

With Lin I think even if you had to match the max you should, he's extremely marketable and would make any franchise a considerable sum of money in a way that the average free agent won't. It was a bad business decision by the Knicks, maybe a good basketball decision, horrible business decision.

[edrick]

It's a big deal, obviously, but what really matters is how well the Knicks perform this upcoming season.