Nike Inc. (NYSE:NKE) became the latest company to bank on "Linsanity" this weekend when it unleashed a new shoe for the New York Knicks' Jeremy Lin during the NBA's All-Star break in Orlando, Fla.
Nike hopes to ride the popularity of Knicks point guard Jeremy Lin, the league's first Chinese-American player whose strong play over a short amount of starts lifted the listless Knicks to a winning streak and brought the former Harvard grad to the media forefront.
Lin's play even was credited with lifting the stock of Madison Square Garden (NASDAQ:MSG), which owns the Knicks and operates several television channels, to all-time highs during the streak.
Lin has been under contract with Nike since 2010, and he has one more year left on his deal. After that, he could be a play for Adidas (PINK:ADDYY), the world's second-largest sports apparel company, which recently announced plans for expansion in China. Adidas currently has about 6,700 retail locations in the country.
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