Jul 14, 2014, 3:59 PM EST
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.
Mar 5, 2015, 2:47 AM EST
Westbrook is putting up Jordan numbers.
Mar 5, 2015, 2:10 AM EST
This after the Celtics just smacked the Timberwolves pretty good.
Mar 5, 2015, 12:05 AM EST
Mar 4, 2015, 11:15 PM EST
Marc Gasol is a beast.
Mar 4, 2015, 10:38 PM EST
Who was that masked man?
Mar 4, 2015, 9:58 PM EST
Why didn’t Utah have Rudy Gobert protecting rim?
Mar 4, 2015, 9:35 PM EST
What penalty should Frazier receive?
Mar 4, 2015, 8:44 PM EST
Pacers are ganging up on Denver players
Mar 4, 2015, 7:53 PM EST
Sorry, Mark Cuban
Mar 4, 2015, 7:09 PM EST
He missed five games with a strained shoulder.
Mar 4, 2015, 6:14 PM EST
Don’t be shocked if the final price tag is close to $1 billion. Yes, for the Hawks.
Mar 4, 2015, 5:15 PM EST
Except you don’t really want a strong point guard in Phil Jackson’s triangle.
Mar 4, 2015, 4:30 PM EST
Some guys turn things around, bu Hairston has a lot of work to do.
Mar 4, 2015, 3:45 PM EST
Singing is awful, but the dancing is fantastic.
Mar 4, 2015, 2:58 PM EST
Allen isn’t officially retiring just yet, says he’ll reassess things in advance of next season.
Mar 4, 2015, 2:15 PM EST
Davis has missed the last six games with a shoulder injury.
Mar 4, 2015, 1:28 PM EST
He should put up numbers against the Sixers. Then again he puts up numbers on everyone.
Joakim Noah says non-violence video he put out helped him maintain composure after flagrant foul from Wizards’ Nene
Mar 4, 2015, 12:45 PM EST
Nene whacked Noah in the face, but Noah didn’t respond.
Mar 4, 2015, 12:00 PM EST
Chemistry issues in Memphis?
Mar 4, 2015, 11:20 AM EST
League is releasing officiating reports for all calls made in a close game’s final two minutes, and the results are fascinating.
- Five Things We Learned in NBA Wednesday: Masked Russell Westbrook just needs a cape 0
- George Karl: Knicks could use a strong point guard next to Carmelo Anthony 8
- Ray Allen announces he will not play this season 14
- Pelicans’ Anthony Davis a gametime decision Wednesday vs. Pistons 1
- Derek Fisher questions ‘character and integrity’ of players after Knicks lose to Kings by 38 points 29
- Five Things We Learned in NBA Tuesday: The Hawks clinched playoff spot in front of Josh Smith 6
- Nuggets need to decide direction, then hire coach 18
- Report: Russell Westbrook ‘likely’ to return to Thunder lineup Wednesday, will wear protective mask 13