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 28, 2015, 11:00 PM EDT
It’s not a coincidence you see stars like Chris Paul, LeBron James, Tim Duncan and Russell Westbrook in a highlight package like this.
Aug 28, 2015, 9:30 PM EDT
Hollins’ likes to slow things down.
Aug 28, 2015, 7:59 PM EDT
It is going to be a rough year in Denver as they give the keys to the offense to a rookie point guard.
Aug 28, 2015, 6:46 PM EDT
I wouldn’t bet on him making the roster.
Aug 28, 2015, 5:44 PM EDT
Will either of them take a discount for security?
Aug 28, 2015, 3:58 PM EDT
Charles Barkley talked about how he never found Dawkins in a bad mood — he was always jovial.
Aug 28, 2015, 2:59 PM EDT
Boozer is making the right play here.
Aug 28, 2015, 2:15 PM EDT
It shouldn’t linger into training camp if he doesn’t aggravate it.
Aug 28, 2015, 1:44 PM EDT
What did you expect he would say?
Aug 28, 2015, 1:00 PM EDT
Ballmer may just be ahead of the curve on this.
Aug 28, 2015, 12:00 PM EDT
He did his damage in just 25 minutes.
Aug 28, 2015, 11:21 AM EDT
Spoiler: Thomas’ team won.
Aug 28, 2015, 10:30 AM EDT
The Lakers co-owner isn’t closing the door.
Aug 28, 2015, 9:44 AM EDT
Get excited, Magic fans.
Aug 28, 2015, 9:10 AM EDT
No deal is in place as of now.
Aug 28, 2015, 8:34 AM EDT
He calls DeMarcus Cousins his “brother.”
Aug 28, 2015, 8:00 AM EDT
Did Mychal raise a cheater? I don’t think so.
Aug 27, 2015, 11:59 PM EDT
Henderson has played in Iraq and Qatar since going undrafted.
Aug 27, 2015, 11:15 PM EDT
Howard last played in the NBA in 2012.
Aug 27, 2015, 10:30 PM EDT
This is scary for the rest of the league if it’s true.
- Jim Buss open to the idea of Kobe Bryant playing beyond this season 28
- Derrick Rose on sexual assault suit: “I am confident I will be proven innocent” 2
- Report: Kyrie Irving likely not back opening night, could be out until January 14
- Legendary Sixer, backboard-shattering dunker Darryl Dawkins dies at 58 14
- After Rio Olympics next summer, who takes over at Team USA coach? 7
- Kobe, Shaq discuss regrets over feud that ended their Lakers era 49
- NBA fines Clippers for attempting to circumvent salary cap with DeAndre Jordan 10
- The most overlooked – and maybe most significant – reason Carmelo Anthony won’t waive his no-trade clause this season 18