Charles Dolan Has Made Nearly $20M in Stock Gains Off the New York Knicks’ Winning Streak

If you think sports betting is fun, you should try sports investing.

On Monday, we looked into the publicly-held MSG Entertainment’s stock price increase since the New York Knicks’ winning streak—and Linsanity—has taken hold.

It looked like this:

linsanity stock market Charles Dolan Has Made Nearly $20M in Stock Gains Off the New York Knicks Winning Streak

And like this:

closer look Charles Dolan Has Made Nearly $20M in Stock Gains Off the New York Knicks Winning Streak

On Monday, $MSG had closed at $32.28. Trading closed today at $31.91, down from a morning rally that took it to a new high at $32.92. Even at the stock’s closing price today, however, the gains made off of Jeremy Lin’s entry to the team and their brand new (but already mythologized) winning streak is still great news for $MSG. How great?

Charles F. Dolan—the founder of Cablevision and Madison Square Garden Inc., the director of the company, and father of MSG Chairman and Cablevision President James L. Dolan—holds 6,298,253 shares of common stock in $MSG.

That 11.189% increase the stock gained over the last week has resulted in the value of his holdings increasing by $19.78 Million. James Dolan, by comparison, holds 1,174,092 shares of common stock in $MSG, netting himself a gain of about $3M

The other largest holders and their gains, via Standard & Poor’s:

  • Southeastern Asset Management, Inc. $18.65M
  • T. Rowe Price Group, Inc. $17.00M
  • GAMCO Investors, Inc. $10.04M
  • Clearbridge Advisors, LLC: $8.92M
  • The Vanguard Group, Inc. $8.59M
  • Burgundy Asset Management Ltd. $7.63M
  • Ariel Investments, LLC $7.16M
  • River Road Asset Management, LLC $7.15M
  • Dolan, Helen A. (Former Director) $6.12M
  • BlackRock, Inc. (NYSE:BLK) $5.89M

 
In light of all that new Knicks money, a reminder of just how much Jeremy Lin is going to make this season from the New York Knicks:

$762,195, or the minimum for an NBA player in his second year.

fkamer@observer.com | @weareyourfek

Comments

  1. Scmba says:

    Dolan will still find a way f-up this lucky gift.  It would not surprise if J-Lin signs with elsewhere with a less idiotic owner (i.e. Mark Cuban). Remember Dolan has run out a few Hall-of-Fame coaches out of town and still listens to Isiah Thomas for advice.