One of the main talking points since LeBron chose to return to Cleveland is how much of a positive impact he’ll have on the city’s economy. Yesterday, one county executive in Cleveland put a number on it, estimating LeBron’s annual impact to the city at $500 million.
Here are the details: the increase in net revenue at Cavaliers games alone is expected to be $268 million, a lot of that coming from an increase in attendance. This makes sense because on the same day that LeBron announced his return, season tickets were sold out in Cleveland. Every regular season game will be an event. This figure of course likely doesn’t even take into account the potential income from a deep playoff run.
In addition, there will be a boost in several sectors of the economy, from restaurants, convention business and hotels.
LeBron’s return has already positively impacted the Cavaliers. They were valued at $515 million earlier this year. Experts believe with LeBron on board, they’re now a billion dollar franchise.
All of this is great, but all that’s going to matter to LeBron when the season starts is getting the Cavaliers back to the NBA Finals.
Follow me on Twitter @steven_lebron