LeBron James Return Will Bring $500 Million A Year To Cleveland’s Economy

| July 16, 2014 | 0 Comments

james by statue1
The announcement that Lebron James was going home meant in dollars that the star will stimulate Cleveland’s economy by $500 million dollars in one year alone.Photo credit/Lebron James/IG

Even the rumor of Lebron James possibly moving back to Cleveland helped the Cavaliers sell a million dollars worth of tickets in less than a day. Now that the news is official that James will return to Cleveland , season tickets for the upcoming year are already sold out. In fact , economist are estimating that Lebron James move back to Cleveland will have an estimated $500 million impact to Cleveland’s economy.

James , 29 , played for the Cavs for seven seasons before leaving in 2010 for Miami , where he helped lead the team to a pair of championships.

Based on calculations by the Cuyahoga County fiscal office , James’s return will increase the profits made by the Cavaliers alone to about $268 million.
The move will also increase the value of the Cavs from $515 million to over a billion-dollar franchise according to Peter Schwartz , managing director of Venture Capital at Boston-based Christie & Associates LLC.

James will make over $20 million for the next two years to play for the Cavs , but the deal my very well be worth every penny , when you had the windfall of cash that follows James.

[Click here to return to home page]


Tags: , , , , ,

Category: Sports

About the Author ()

Darnell Moore has extensively studied music and urban culture both academically and professionally for over 20 years. His writings and posts have appeared in many major urban publications. Moore is the founder and creator of Memoirs of an Urban Gentleman. Contact him , http://darnellmmusic@gmail.com/ or https://twitter.com/@darnellmmusic/

Leave a Reply