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Knicks Coach Resignation Hurts Madison Square Garden (MSG)

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By Jon C. Ogg Published

The Madison Square Garden Company (NYSE: MSG) is getting hit today on reports that Mike D’Antoni is resigning.  He is in his final year of his contract and he has been in a feud with Carmelo Anthony.

With all the Lin-sanity happening, Madison Square Garden is sort of acting like a proxy for the sports news flow for the teams under Madison Square Garden.  Whether or not this would really represent much key investor news out of sports news or not is one thing, but currently the vote is that it is material.

Madison Square Garden shares are down 2.2% at $32.26 and the 52-week trading range is $21.12 to $33.49.

JON C. OGG

Contact [email protected] for any questions or corrections.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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