MSG Shares Slide on LeBron Pessimism

Shares of Madison Square Garden Inc., the organization that owns the Knicks, have taken a hit this morning on rumors that LeBron James will most likely not be coming to New York.

The organization took a five percent hit this morning, after a six percent bump yesterday, and hand-wringing fans have been desperately watching the stock looking for some indication — any indication, really — of James’ decision ahead of his 9 p.m. press conference.

The James pessimism stems largely from ESPN, which said this morning that signs point to James joining the Miami Heat, citing multiple unnamed sources.  That may not seem like much, but The New York Times points to several other hints, like betting odds, that the announcement may not go well for New York. And Gov. David Paterson, on his preferred medium of radio this morning, didn’t seem particularly excited about the prospect of James coming to the state. 

This is all, of course, wild speculation and seems like a lot of trouble to pry into the mind of a one man. King James is a harsh master!