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James signing with Miami deflates MSG stockBasketball Betting Lines07/09/2010 - NEW YORK (AP) - Now that LeBron James has decided to play basketball in Miami, shares of Madison Square Garden Inc., owner of the New York Knicks, have gone south as well. Madison Square Garden shares had risen as much as 11 percent this month as a nationwide fervor mounted over what team the superstar free agent would pick. The two-time league MVP's announcement Thursday in an hourlong ESPN special that he'd leave Cleveland to play in Miami instead of New York, Chicago, New Jersey or any other bidding team's cities sent the company's stock down 94 cents, or 4.6 percent, to close Friday at $19.44. That was below the low reached two trading days before the start of the free agency shopping spree began on July 1. The shares had hit a two-week high on Wednesday of $21.91. But all hope is not lost for the Knicks or its owner, says Gabelli & Co. analyst Christopher Marangi. Right after James' announcement, the once-hopeful Knicks made some last-minute swaps that should still improve the team and its owner's financial prospects, he said. The Knicks traded productive center David Lee to the Golden State Warriors for forwards Anthony Randolph, Kelenna Azubuike and Ronny Turiaf. The move means the team won't have to pay Lee a big salary, giving it salary cap room to make additional moves this season. Also, the team will save millions of dollars on a luxury tax that would have been imposed had it signed James and boosted its payroll higher, he said. ``While the Knicks won't get instantly better, the Knicks without LeBron James should improve,'' Marangi said. He noted that the Knicks finally loosened the purse strings by acquiring Amare Stoudemire from Phoenix and have the financial wherewithal to make other moves this season that could improve its performance on the court. ``Earnings should go up as a result,'' he said. The Knicks have posted nine straight losing seasons, a franchise record, in part because they gutted their roster to free up money for a player like James. The Knicks entered the free agency shopping spree with the most salary cap room in the league with $34.1 million - enough for two players earning the maximum salary, with about half for each. After picking up Stoudemire, it still had $17 million to spend on James. That money can now be used elsewhere. ``We are disappointed that LeBron James did not pick the New York Knicks, but we respect his decision,'' Knicks president Donnie Walsh said late Thursday. The bitterly disappointed owner of the Cleveland Cavaliers owner Dan Gilbert ripped James in an open letter on the team's website. ``The self-declared former 'King' will be taking the 'curse' with him down south,'' he wrote. Marangi had estimated signing James could have boosted earnings before interest, taxes, depreciation and amortization by $30 million to $50 million per year. The company would have benefited from increases in the MSG television network's advertising revenue, attendance at games, and concession and merchandise sales. Now James takes some of that financial heat down to Miami and team owner billionaire Micky Arison, the CEO of cruise company Carnival Corp., which operates its namesake, Holland America, Princess and other cruise lines.Copyright © 2005 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.
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Charlotte, NC (Sportsbook Betting Lines) - The Charlotte Bobcats have reportedly reached an agreement to bring back power forward Tyrus Thomas. The Charlotte Observer confirmed that a deal has been agreed to in principle between the two sides whic
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SPORTS BETTING - Tennis is an underrated and under-utilized bettors' sport.Ten years ago, at just about this time, I called Alan Boston in Vegas and left him a voicemail that went something like this (abridged version): "Hey Alan, Chad Millman from ESPN The Magazine calling. I want to do a book about wise guys, you in?" A couple weeks later I got a message back (abridged version): "I don't know, maybe," Boston said. "Call me and we'll talk about it. But not later today. I got $1,000 on Andre Agassi to win the French Open at 40-1, and he's in the finals."
Here's what happened next (abridged version): Agassi won his tourney. Boston won his $40,000. I wrote sportsbook. In the ten years since, how much has been wagered on the big-time tennis events? Put it this way: The Nevada Gaming Commission doesn't even track the number year by year because it's so small. "Tennis makes up about one-tenth of one percent of our take," says Lucky's bookmaking boss Jimmy Vaccaro. "The last big golf major we probably had $100,000 worth of bets. In tennis, we might have written two big tickets." But Wimbledon? Doesn't exactly reel in the whales. "Seriously, it's the nuts as an event," says Boston. "But who even knows when it's on?" Here's another reason that helps explain why golf gets traction, something I call "The Bubbe Theory." My Bubbe is pushing 95 and has cataracts so bad that, to her, even the most crystalline Chicago day is mostly cloudy. But she still listens to the Cubs games, and she still calls me in a fit if she disagrees with something Rick Telander writes in the Chicago Sun Times. She's a sports fan. If she doesn't know you, you're just filling a niche. And niche players, even historically good ones like Roger and Raf, don't drive betting volume. Only the highest profile names attract square money, which inflates wagering totals like a shot of saline to the lips. Bubbe, and the public, loved Agassi, tennis' last cross-the-rubicon, mainstream draw. She also has a crush on Tiger. She's given me standing orders to put a sawbuck on the big cat whenever I walk through a sports book (or mistakenly tap into one via my Internet machine.) That explains why the Masters is getting $100K in action at some books while the four tennis majors might not get that combined this year. This isn't a case of tennis being a difficult sport to bet. In fact, in Europe, it's probably the second most popular sport for gambling after soccer. Granted, as the WSJ football betting last week and The Mag's Shaun Assael examined in even greater depth last year, that might be because gamblers across the pond see it as an easy game to fix. But it could also be because, over there it holds the kind of sway the big two do over here. Street corners in Spain are peppered with public courts and kids doing their best Raffy impressions. In some war torn parts of Eastern Europe poverty-stricken kids view tennis as an escape route, like football or basketball here. A couple years ago The Mag's Lindsay Berra wrote a great piece about Belgrade's Jelena Jankovic, Ana Ivanovic and Novak Djokovic. They learned the game as kids while bombs were raining down on their homeland. They practiced in drained swimming pools. Not exactly Nick Bolletierri conditions. In the United States, casual fans think tennis is played four times a year. But on the tightly packed European continent, national interest in homegrown talent runs deep every weekend. Of the ATP's current top 20 players, only two, tennis betting and James Blake, are American. Fourteen are from Europe, representing six different countries. No wonder fans from Lisbon to Bhudapest get jacked up for the net game, whether it's Wimbledon or a low-level tourney like the Estoril Open in Portugal (congrats to Spain's Albert Montanes for winning that one, btw). Chances are good that someone representing their flag will not only be playing, but have a shot at winning. And that's all any bettor can ask for. To visit this sports book go to MySportsbook.com for all your football betting needs. MySportsbook features easy-to-use online betting software that’s the most reliable in the industry. If you’re looking to bet underdogs, then this Sportsbook is the place - we have the best betting lines in the business. MySportsbook is your one-stop shop for all your betting needs - sports betting, poker, casino, and horse betting . MySportsbook offers every bet type with lightning fast settlement of wagers. Take advantage of free statistical analysis - including against-the-spread and straight-up trends - in MySportsbook’s game previews section. With MySportsbook there are unlimited free deposits and payouts - and no transaction fees! To visit this online sportsbook got to MySportsbook.com for all your football sportsbook needs. |
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