Harvard University is well known in business circles, as many Harvard MBA's run companies around the world. But another Harvard product by the name of Jeremy Lin is having a huge impact on the business of the Madison Square Garden Company or MSG. MSG is a publicly traded company that owns the New York Knicks.
Jeremy Lin from Harvard Now a NBA Star
Jeremy Lin was signed as a free agent by the New York Knicks on December 27, 2011. Lin played sparingly for the Knicks in January of 2012, and was sent down to the NBA D-League for one game, where he recorded a triple-double on January 20.
On Saturday, February 4, 2012, Jeremy Lin finally got his chance to play. He played 36 minutes in the game against the New Jersey Nets, my favorite NBA team, and he scored a career high 25 points and dished out a career high seven assists to lead the Knicks to a 99-92 win.
That started the Knicks current five game winning streak, during which Jeremy Lin has played fantastic basketball. Lin has averaged 26.8 points, 8.0 assists, 4.2 rebounds, and 2.0 steals per game while playing an average of 39 minutes per game. Over the last 10 days, Jeremy Lin has become an instant celebrity as he has taken the NBA by storm.
Ratings for Knicks Games Up 70% Since Jeremy Lin Emerged
Knicks fans have noticed, as have fans of other teams like myself. Even though I'm a Nets fan, I also root for the Knicks because Carmelo Anthony is my favorite NBA player. The ratings for Knicks games broadcast on the MSG TV network have gone through the roof, and soared beyond anyone's wildest dreams.
Over the last four games, ratings for Knicks games on MSG are up 70% from what they were over the previous 20 games (3.08 vs 1.81). The last four games have pushed the ratings for Knicks games to an average rating of 2.02 on the season vs the 1.18 rating the Knicks were averaging at this time last season.
The ratings for the Knicks 100-98 win over the Minnesota Timberwolves game played on Saturday, February 11, 2012, was a 4.17. That is the highest rated game of the season, and just a massive rating for a basketball game. The only Knicks game with a higher rating in recent memory was on February 23, 2011, the first game Carmelo Anthony played for the team after he was traded to the Knicks last season.
The ratings Jeremy Lin is producing are even more impressive when one factors in that some 2 million Time Warner Cable customers in New York cannot currently get Knicks games due to a contract dispute with MSG. In addition to generating great TV ratings, Jeremy Lin is also selling merchandise for the Knicks.
Jeremy Lin Jerseys Top Selling NBA Jersey Since February 4, 2012
Jeremy Lin jerseys are the number one selling NBA jersey since February 4, 2012. All of the buzz, higher ratings and merchandise sales have caused the stock price of MSG to rise since Jeremy Lin has emerged for the Knicks. Since February 4, 2012, MSG stock price has gone from around $29 per share to over $32. That's over a 10% rise.
Harvard Product Jeremy Lin Having Big Economic Impact on New York Knicks and MSG
The improbable emergence of Harvard Crimson product Jeremy Lin to NBA star with the New York Knicks is clearly generating a lot of extra revenue for the Knicks parent company, MSG. Jeremy Lin played for Harvard from 2007 to 2010, and he graduated with a degree in economics.
The Harvard product has certainly had a big economic impact on the New York Knicks and their parent company, MSG, over the last 10 days.