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How Valuable Is LeBron James Going To Be To The City Of Cleveland?

Submitted by on July 15, 2014 – 1:30 pmOne Comment
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You really can’t put a price tag on just how much it means for LeBron James to be back in the city of Cleveland again. Or can you?

After spending the last four years kicking it down in South Beach and playing for the Miami Heat, LeBron decided to return to Cleveland this summer in order to start playing for the Cavaliers again. He’s coming home in order to try and win a championship for the Cavs. And the hope is that he will do it and bring a title back to a city that hasn’t enjoyed a championship in so many years. But even if he never gets around to winning a title for Cleveland, he’s still going to be worth a whole hell of a lot to the city.

Yesterday, the Cuyahoga County Fiscal Office in Cleveland released a report that broke down exactly how LeBron’s return to the city will impact the finances in Cleveland. And that report indicated that LeBron’s presence in the city alone will result in an extra $500 million every single year. About $215 million of that money will come from increased ticket sales at Cavs games. But his impact on the city won’t stop there. In addition to increased ticket sales, LeBron’s presence will also result in more jobs, which will benefit the city greatly. And spending at games and in the city as a whole is expected to increase substantially once LeBron starts playing with the Cavaliers. Bottom line: LeBron is going to do more than just help Cleveland win games; he’s going to help kickstart the local economy, too.

Unfortunately, LeBron himself won’t see any of that money that he’s helping to generate. But when his current contract is up, he will be able to cash in by getting a max deal from the Cavaliers. And additionally, he’ll be able to say that he single-handedly gave his home state a large boost just by returning there to play basketball. So with that in mind, it really sounds like he made the right decision by coming back to Cleveland.

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