Jul 14, 2014, 3:59 PM EDT
The narrative around LeBron James’ return to Cleveland is that of homecoming. That is what he said in his letter and that has resonated not just in Northeast Ohio but nationally (well, not so much in Miami, but everywhere else).
The other side of this is it is a big financial win for Cleveland.
Not just for the Cavaliers — although the value of that franchise just skyrocketed and the amount of sponsor dollars flowing in will become a river — but also for the City of Cleveland. That according to Bloomberg.
The return of the star forward to his hometown Cleveland Cavaliers will have a $500 million a year impact on the local economy, with a boost from additional ticket sales and other spending, County Executive Ed FitzGerald said today….
Based on calculations by the Cuyahoga County Fiscal Office, James’s return will increase the benefit from Cavs games alone to about $268 million. Average attendance increased from about 12,000 before James joined the team to about 20,500 during his final season, the county said. Although attendance has slipped, officials expect sold out games next season with James on the court.
Other spending increases will come at restaurants, convention business and hotels, FitzGerald said. Anticipated benefits include a $34 million increase in annual spending by fans at games to $170 million a year plus 500 additional jobs supported by the Cavaliers, the county said.
As fans we always talk about wanting owners to get name players for our selfish reasons — we want to see our teams win. But there are other motivations for them, the NBA is a business and star players such as LeBron James, Kevin Durant and others bring in far, far more money than their max salaries can pay. Superstars are a real value.
And Cleveland just got back the biggest one of all.
Sep 17, 2014, 1:59 PM EDT
His veteran, playoff-tested presence will be big on this team.
Sep 17, 2014, 1:19 PM EDT
This is all we want to see out of the Timberwolves anyway.
Sep 17, 2014, 1:00 PM EDT
No. Just… no.
Sep 17, 2014, 12:25 PM EDT
Cousins has won over Team USA’s brain trust.
Sep 17, 2014, 11:44 AM EDT
There’s a lot of room for improvement, let’s just say.
Sep 17, 2014, 11:05 AM EDT
Kyrie is going to have to adjust to a different role on the Cavs, but if he does watch out.
Sep 17, 2014, 10:00 AM EDT
Rajon Rondo looms over everything – on and off the court
Sep 17, 2014, 9:31 AM EDT
This is long overdue.
Sep 17, 2014, 9:01 AM EDT
He may not start but he will get plenty of run this season.
Sep 17, 2014, 8:30 AM EDT
Dominique Wilkins is one, but you know the hedge fund guys are in, too.
Dwight Howard’s driver’s license in Florida suspended, he racked up 10 red light violations in Orlando
Sep 17, 2014, 8:00 AM EDT
He has 10 citations for running red lights. Impressive, I don’t care how many sports cars you own.
Sep 17, 2014, 12:14 AM EDT
Well, it’s better than his golf swing.
Sep 16, 2014, 10:45 PM EDT
There haven’t been many better.
Sep 16, 2014, 8:33 PM EDT
Germany qualifying for the Olympics, even with Nowitzki, is an uphill battle.
Sep 16, 2014, 7:23 PM EDT
It seems fitting.
Sep 16, 2014, 5:59 PM EDT
Guaranteed Duncan likes this better than another trip to the All-Star Game.
Sep 16, 2014, 5:20 PM EDT
Half his salary the first year is guaranteed, a sign he is expected to make the final roster.
Sep 16, 2014, 4:40 PM EDT
We’re sorry to do this to you.
Sep 16, 2014, 4:19 PM EDT
The guaranteed deal is huge but the Wolves are deep at the three. He’ll struggle to get minutes.
- LeBron James on Kyrie Irving: “I believe Kyrie can be the best point guard in the league.” 7
- ProBasketballTalk 2014-15 Preview: Boston Celtics 1
- Dwight Howard’s driver’s license in Florida suspended, he racked up 10 red light violations in Orlando 10
- Tim Duncan to appear in “The Punisher” comic book 6
- ProBasketballTalk 2014-15 Preview: New York Knicks 10
- Klay Thompson’s agent: Thompson better two-way shooting guard than Kobe Bryant 50
- Report: Greg Oden’s drinking an issue during season, alleged domestic assault 30
- Kevin Durant calls Allen Iverson “pound for pound” best ever 29