The narrative around LeBron James’ return to Cleveland is that of homecoming. That is what he said in his letter and that has resonated not just in Northeast Ohio but nationally (well, not so much in Miami, but everywhere else).
The other side of this is it is a big financial win for Cleveland.
Not just for the Cavaliers — although the value of that franchise just skyrocketed and the amount of sponsor dollars flowing in will become a river — but also for the City of Cleveland. That according to Bloomberg.
The return of the star forward to his hometown Cleveland Cavaliers will have a $500 million a year impact on the local economy, with a boost from additional ticket sales and other spending, County Executive Ed FitzGerald said today….
Based on calculations by the Cuyahoga County Fiscal Office, James’s return will increase the benefit from Cavs games alone to about $268 million. Average attendance increased from about 12,000 before James joined the team to about 20,500 during his final season, the county said. Although attendance has slipped, officials expect sold out games next season with James on the court.
Other spending increases will come at restaurants, convention business and hotels, FitzGerald said. Anticipated benefits include a $34 million increase in annual spending by fans at games to $170 million a year plus 500 additional jobs supported by the Cavaliers, the county said.
As fans we always talk about wanting owners to get name players for our selfish reasons — we want to see our teams win. But there are other motivations for them, the NBA is a business and star players such as LeBron James, Kevin Durant and others bring in far, far more money than their max salaries can pay. Superstars are a real value.
And Cleveland just got back the biggest one of all.
With so much focus in recent weeks being on NBA players speaking out on social issues, it’s worth remembering that Kareem Abdul-Jabbar has been one of the most vocal athletes in America on these things for decades. The Hall of Fame and all-time leading scorer in NBA history addressed the Democratic National Convention on Thursday evening, urging voters to vote for Hillary Clinton in November, and opened his remarks by introducing himself as Michael Jordan, because “Donald Trump couldn’t tell the difference.”
You can watch the video of his speech below:
In the weeks since Kevin Durant announced he was signing with the Golden State Warriors, we have yet to hear Russell Westbrook speak on his former teammate’s decision. This week, ESPN.com’s Royce Young indicated in a podcast interview that Durant was telling Westbrook and others in the days leading up to his decision that he was coming back to Oklahoma City. He later walked back his report, saying he misspoke. On Thursday, Durant himself told The Vertical‘s Shams Charania that he never said any such thing, or misled Westbrook or anyone else about his intentions.
“It’s false,” Durant told The Vertical on Thursday. “I didn’t say that – words about me telling Russell or Nick that I would stay or leave never came out of my mouth. We met as teammates, but no promises came out of it. In this day and age, I can’t control anything people claim out there. Someone can go out and say something random right now, and people will believe it.
“I never told Russell or Nick [Collison], ‘All right, guys, I’m coming back to the Thunder’ – and then a week later, I decide not to. Never happened. I don’t operate like that. I heard people say that story, but it’s not the truth.”
So that settles that.
CHICAGO (AP) The Chicago Bulls have signed guard Spencer Dinwiddie.
The Bulls acquired Dinwiddie in a trade with Detroit last month and waived him three weeks ago. He spent two years with the Pistons and appeared in 12 games last season, averaging 4.8 points and 13.3 minutes.
The Bulls announced the move Thursday.