Fansided

LeBron James Brings In The Money

By Gerald Tracy

Nov 7, 2014; Denver, CO, USA; Cleveland Cavaliers forward LeBron James (23) in the fourth quarter against the Denver Nuggets at the Pepsi Center. The Cavaliers won 110-101. Mandatory Credit: Isaiah J. Downing-USA TODAY Sports
Nov 7, 2014; Denver, CO, USA; Cleveland Cavaliers forward LeBron James (23) in the fourth quarter against the Denver Nuggets at the Pepsi Center. The Cavaliers won 110-101. Mandatory Credit: Isaiah J. Downing-USA TODAY Sports /
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This summer NBA superstar LeBron James made the decision to return home from Miami to help the Cleveland Cavaliers win a championship, it may also be helping the area economically. 

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With all the hoopla, negative and positive, surrounding the early parts of the NBA season and the Cavaliers standing at a modest 3-3, some may not see the real impact LeBron James is having in Cleveland.

In a recent story from The New York Times, there are estimates that LeBron coming back to Cleveland will bring back $500 million back to the economy of Cleveland. That’s a lot of money, but not completely unreasonable considering, as mentioned in the story, season tickets sold out for the Cavaliers the day James announced his decision. The team is even trying to make sure every one has a fair chance at getting the tickets:

"This year, season tickets sold out the day James announced his return, and demand is so overwhelming that the team is raffling the remaining single-game tickets so that everyone in Cleveland has a fair chance."

However the cities total economic output last year was around $123 billion, so adding another $500 million to that and it’s forcing some experts to come out to say the estimate is a little outrageous.

"“It’s just going to result in a redistribution of entertainment spending from other activities to the Cavs,” said Edward W. Hill, dean of the Levin College of Urban Affairs at Cleveland State University. “My wife is now beating me on top of the head to make sure that I get our tickets, which will mean one less dinner together at a restaurant as we go to the Cavs instead.”"

I’m not saying Cleveland won’t benefit from having James back because they will. But I’m no economy expert and saying that much money will be brought back to Cleveland is a little crazy in my opinion.

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