The Cleveland Cavaliers will certainly benefit from signing LeBron James, but the city of Cleveland will also receive a boost from the superstar's homecoming.
County Executive Ed FitzGerald expects James' return to bring in a lot of revenue for the city, according to Bloomberg.com's Mark Niquette:
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.
Cavaliers games alone are estimated to bring in about $268 million, according to calculations done by the Cuyahoga County Fiscal Office. Attendance at Quicken Loans Arena has dropped off since James left in 2010, but ESPN.com's Darren Rovell reported that the team has already sold all of its season tickets. The increase in attendance will be a nice financial boost for the organization.
The Cavs will certainly be generating more money with LeBron wearing their uniform again, but they won't be the only ones who see an increase in revenue.
“It generates real money for the local economy,” FitzGerald& ...
Read Full Article at Bleacher Report - NBA
Article written by Kyle Newport
LeBron James’ Return to Cleveland Projects to Bring in $500 Million for City
July 15th, 2014 by Kyle Newport Leave a reply »
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