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Investors Betting LeBron James Heading to New York Knicks as Stock in Madison Square Garden Inc. Jumps
While LeBron James hasn’t announced where he will be calling home next year investors on Wall Street have put their bet down as shares in Madison Square Garden Inc. (NASDAQ: MSG) jumped significantly on Wednesday, eventually closing at $21.57 at the end of the day.
That jump was a clear indicator that investors are betting LeBron will be playing for the New York Knicks but that bet may have suffered a serious setback as the Miami Heat came to an agreement with a pair of superstars on Wednesday, Dwyane Wade and Chris Bosh.
Wade and Bosh are considered close friends of LeBron and their decision to play in Miami has many believing the most-prized free-agent of the 2010 class will sever ties with the Cleveland Cavaliers, dismiss the New York Knicks, Chicago Bulls and Los Angeles Clippers to head to South Florida.
LeBron will end all the speculation on Thursday night during a one-hour special being aired on ESPN at 9:00 p.m. ET.
While fans of LeBron and the teams that are in contention to land his services will certainly be watching, the investors who shoveled money into MSG on Wednesday may be the most interested as some forecasters have suggested landing the superstar would significantly increase the value of the company.
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