People and Pop Culture

The Market

A measured look at this week’s holdings

7.8.2019

TWITTER / ROCNATIONSPORTS

Buy

Roc Solid

Roc Nation Sports officially signed six-time NBA All-Star point guard Kyrie Irving, who had been represented by Jeff Wechsler since arriving in the NBA in 2011 before cutting ties with him last month.

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Sell

Start Spreading the Blues

The allure of playing in Madison Square Garden and resuscitating a historic franchise once again failed to bring any marquee free agents to the Knicks, as both Irving and Kevin Durant opted to take their talents to Brooklyn. The decline in MSG’s stock price the next day eliminated more than $200 million in the market value of James Dolan’s company.

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Hold

Anybody’s Game

The Warriors still have Steph Curry and will move next season into a new arena that should keep their business fortunes strong. But with Klay Thompson hurt, Durant gone and rivals improving in free agency, the NBA should have greater parity, which the league can use to sell the sport.

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