This week’s highlights from the sports business world:
Business of “Linsanity” – Jeremy Lin’s meteoric rise to stardom is not only impacting the Knicks record on the court. It is having a profound business effect in a variety of places. MSG stock reached a 52 week high and is up 7% since Feb 7th (Lin’s first start), TV ratings are up 70% on MSG Network, secondary ticket sales are up 25%, Lin T-shirts and jerseys are the #1 seller on NBA.com, Knicks overall merchandise sales are up 200% since this time last year and are also now #1 on NBA.com and a Lin game used jersey sold for a reported $40k on eBay. Lin is currently signed with Nike so I’m sure we’ll see something from them soon with new endorsement deals pouring in.
Seattle unveils plans for new arena – Christopher Hansen is proposing $290 million of his own money and asking the city for another $200 million to build a $490 million arena to lure back the NBA and possibly an NHL team. There is a lot of red tape to get through, but Seattle is a great sports town with a rich 41 year history of NBA basketball. Nothing will happen without a commitment from a team, but this is a good first step. http://es.pn/woaPCn
Turner broadcasting to begin charging for Madness On-line – CBS Sport’s March Madness On Demand is one of the most successful examples of on-line streaming over the past few years. Up until now MMOD has been free, but this year Turner who is the other broadcast partner will charge $3.99 for access to their games on-line. The CBS games will still be free. Turner is targeting fans who do not subscribe to cable or satellite along with distributors who do not offer their customers on-line streaming. http://lat.ms/xOm3BI