It looks like the economy in Cleveland will be on the immediate rise. Less than eight hours after LeBron James announced his homecoming to Cleveland, the team had sold out of all their season tickets for 2014-15.

A report stated that the Cavaliers capped season-ticket sales around 12,000, while leaving around 8,000 tickets for group sales and ticket plans. Before LeBron’s announcement, fans interested in season tickets had to drop a $200 deposit on a seat. That price spiked to a flat $500 fee once LeBron had confirmed that he was coming home. The prices of the season tickets didn’t rise, however individual ticket prices are expected to rise substantially.

For the first time in a long time, the Cleveland Cavaliers have the hottest ticket in town.

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