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Tuesday, February 14, 2012

How much is 'Linsanity' worth?


NEW YORK – New York Knicks guard Jeremy Lin now boasts the world's fastest-growing athlete brand, according to Michael Ozanian of Forbes, with the 23-year-old's name worth in the $14 million range.

Lin's endorsement portfolio could eventually hit the $15 million range, Ozanian predicts.
Lin's star power is also helping the financial bottom line of publicly-traded Madison Square Garden Co. Monday, shares of MSG rose 3.8% to a record high of $32.32, on three times the normal trading volume. They were down slightly Tuesday at around the $32 range.

"It's actually a phenomenon without precedence, and I'm enjoying it for him, for our league and for the Knicks," NBA Commissioner David Stern said Tuesday.
"It's what happens when you have unscripted drama. Anything can happen, and it brings in a lot of issues which I'm enjoy reading — the issue of most importance to me is the issue of how many other potential Jeremy Lins are out there who have not received the opportunity by getting minutes."
Lin is also helping MSG Network attract new male and female viewers across all demographics, says Mike Bair, president of MSG Media.
TV ratings for Knicks game telecasts have jumped 70% since Lin came off the end of the bench last week and led the team to five consecutive victories entering Tuesday at the Toronto Raptors.
But even Lin can't get Time Warner Cable to relent in its ongoing carriage dispute with MSG. Since Dec. 31, all Knicks games have been blacked out in Time Warner homes.
Debra Englander, an editorial director at John Wiley & Sons who lives in Forest Hills, N.Y., said her husband, David, is "enthused" about following what Lin is doing for the Knicks, "Although we can't watch the games 'cause of the MSG blackout."
But Bair hopes Lin will be the game-changer that brings the cable company back to the negotiating table.
"There's no doubt the pressure has increased substantially with the play of the team and the emergence of Jeremy Lin," Bair says. "We know, anecdotally, and from social media, that people are calling, they do want to see this team. And if they can't get it from their local provider, they're going to switch."
The Knicks had to scramble to start selling replica No. 17 jerseys and t-shirts at the club's online store. Just in the past week sales and traffic have increased more than 3,000% according to Delivery Agent, which powers the web site.
"Put it this way, they're flying off the shelves — and we can barely keep up with the demand," Bair says.
Lin is such an overnight sensation that the Q Scores Co. hasn't gotten a fix on him yet, says executive vice president Henry Schafer, but they will include him in their next national survey in March.
Q scores measure the appeal and familiarity of athletes and celebritries. They're used by national advertisers to measure the selling power of potential corporate endorsers.
Lin has virtually no endorsements outside of his current shoe deal with Nike. But Lin's deal with the Swoosh is probably for very little money. That raises the possibility Lin and his reps will seek to renegotiate or reup their deal with Nike on more favorable financial terms.
Nike spokesman Brian Strong declined to comment on the company's advertising and marketing plans for Lin.

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