This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Jeremy Lin: The $170 Million Man

NEW YORK (TheStreet -- New York Knick point guard Jeremy Lin is a one-man economic recovery that even Ben Bernanke couldn't dream up in his Federal Reserve meetings.

Lin-sanity has taken the country by storm and as a result created a spending frenzy that's benefiting a broad range of companies, tax rolls and even the stock market. Lin's salary this season is a modest (by NBA standards) $800,000, but by some calculations, he's turned into the $170 million man. The most tangible impact has been on the market cap of Madison Square Garden (MSG), whose stock has jumped 7% to close Thursday at $31.87 from its close at $29.77 on Feb. 7 when Lin first entered the Knicks' starting lineup. That translates to a $170 million to the company's market cap to $2.4 billion.

Neither the Rangers, currently sporting the best record in the NHL's Eastern conference, or The Westminster Dog Show can take credit for that. Apologies to Malachy.

But there's more of an impact to consider. Ticket prices for Knick games are estimated to have jumped more than 25% in the resale market. That means all the online ticket sellers are seeing an increase in their bottom lines.

Plus, it isn't just the tickets in New York that have increased, the tickets sales have gone up while the Knicks are on the road.

"We've seen an increase of 10x in site traffic and ticket sales," says Joellen Errer, head of communications at online ticket seller Stub Hub. "Page views, search activities increased. As soon as he hit the game winning three-pointer on Tuesday, prices have risen 2-3x."

Stub Hub is an eBay (EBAY) company, which if you were wondering, a Jeremy Lin search brings up more than 11,000 results.

"It's a combination of all factors, the Knicks are on the largest stage and it's a turnaround story," Errer continued. "Then there's the the mommy test. If Mom has heard of him, then he's past the sports headline and into the everyday news."

Stock quotes in this article: MSG, NKE, EBAY 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs