Knicks point guard Jeremy Lin is making $800,000 this season. However, he’s worth more than that – a lot more.
Knicks owner Madison Square Garden’s stock has jumped 7% to close this past Thursday at $31.87 from its close at $29.77 on February 7 when Lin first entered the Knicks’ starting lineup. That’s a difference of $170 million.
As reported by Forbes, ticket sales have also seen a dramatic jump. Ticket prices for home games have gone up 25%. As well, tickets prices have gone up on the road for Knick games.
“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.”
There’s also the retail side of things too. Lin jerseys are flying off shelves. Some estimates have jersey sales generating close to $2 million.
TV ratings are also up, which means networks can charge more for ads. Let’s not forget the tax man, who is seeing more money in the form of sales tax.
Nike has a deal with Lin. Once it puts together a shoe, expect to see sales soar.
Jeremy Lin’s lawyers have filed the two U.S. trademark applications for the marks LINSANITY and JEREMY LIN.
One reason for the applications – the inherent value in these marks and looking to protect them moving forward.
The other reason – two people (Andrew Slayton and Yenchin Chang) have filed their own U.S. trademark applications for LINSANITY. So Lin's lawyers will look to push they guys off the mark.
There is also the issue as to who may capitalize on the LINSANITY mark - the Knicks or Lin himself. As an employee of the Knicks, and with the mark so tightly connected to his job, the Knicks may be discussing this with Lin's team.
Clearly, Lin’s appeal is translating into some dollars and people looking to capitalize on the equity in his name.
Here's your U.S trademark application for LINSANITY: