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.
Aug 3, 2015, 12:01 AM EDT
Orlando keeps backup center on minimum contract
Aug 2, 2015, 10:30 PM EDT
I think the movie is coming, people.
Aug 2, 2015, 9:32 PM EDT
Saunders has a versatile front line, but does he have enough shooting to give them room to operate?
Aug 2, 2015, 8:50 PM EDT
Jordan will gloat about this to Butler for years.
Aug 2, 2015, 3:30 PM EDT
The game in Africa felt like an exhibition.
Aug 2, 2015, 2:00 PM EDT
It’s a standard rookie contract for a first-round pick.
Aug 2, 2015, 12:30 PM EDT
He will be one of the favorites to win ROY.
Aug 2, 2015, 11:00 AM EDT
He was a star with the Buffalo Braves (the franchise that is now the L.A. Clippers).
Aug 2, 2015, 9:30 AM EDT
“Dude, what are you talking about? You’re only a year older than me!” — Giannis Antetokounmpo on Anthony Davis calling him “kid.”
Aug 2, 2015, 8:00 AM EDT
Okafor is getting acquainted with his young fans in Philadelphia.
Aug 2, 2015, 12:30 AM EDT
Davis is in talks to re-sign with the Clippers.
Aug 1, 2015, 11:00 PM EDT
Hamilton played 14 games with the Clippers last season.
Aug 1, 2015, 9:30 PM EDT
Rose played in the 2010 and 2014 FIBA World Championships.
Aug 1, 2015, 8:00 PM EDT
That would be good news for the Spurs and bad news for the rest of the Western Conference.
Aug 1, 2015, 6:30 PM EDT
Noah spent most of last season limited by knee surgery.
Aug 1, 2015, 5:00 PM EDT
His $4.7 million salary for next season is unguaranteed.
Aug 1, 2015, 3:30 PM EDT
Paul is still in the running for a spot on the 2016 Olympic team.
Aug 1, 2015, 2:00 PM EDT
Will this lead to all 30 teams getting their own affiliates?
Hakeem Olajuwon and Dikembe Mutombo make surprise appearances for Team Africa in NBA exhibition game (VIDEO)
Aug 1, 2015, 12:30 PM EDT
Team Africa faced off against Team World in Johannesburg.
Aug 1, 2015, 11:00 AM EDT
Mbah a Moute signed a one-year deal with the Kings in July.
- Jahlil Okafor: “Rookie of the Year is one of the goals I set for myself” 13
- Report: Derrick Rose undecided about attending Team USA minicamp 8
- Report: Pacers planning to purchase D-League’s Fort Wayne Mad Ants 3
- Report: Hawks’ Mike Scott told police after arrest all drugs in car were his 17
- NBA lands in Africa trying to put down roots, which is all about youth programs, infrastructure 1
- Report: Kings expected to hire Nancy Lieberman as assistant coach 9
- Report: Hawks’ Mike Scott arrested for felony drug possession 16
- Gilbert Arenas on LeBron James: “James isn’t a #1 option..and yes I (didn’t stutter)” 50