The exit of LeBron James could lead to greater losses for the Cleveland Cavaliers than just those experienced on the playing field. At just 25 years old, James, a two-time Most Valuable Player, is set to become the NBA’s most sought-after free agent on July 1. Should he decide to leave his home team, estimates […]
The exit of LeBron James could lead to greater losses for the Cleveland Cavaliers than just those experienced on the playing field. At just 25 years old, James, a two-time Most Valuable Player, is set to become the NBA’s most sought-after free agent on July 1. Should he decide to leave his home team, estimates from former basketball executives suggest the value of the Cavaliers might drop by as much as $250 million. Cleveland has enjoyed back-to-back seasons with 60 wins and ranked second in the NBA for attendance, averaging 20,562 fans per game last season. According to Forbes magazine’s assessment of NBA franchises, the team stands fifth in value at $476 million. “I wouldn’t be surprised if the Cavaliers in a year or two find themselves below the league average regarding value,” indicated Michael Cramer, the former president of baseball’s Texas Rangers and hockey’s Dallas Stars, who instructs on sports business at New York University. “A single player can have a substantial influence, particularly in the NBA, especially when discussing one of the top two or three most visible and recognizable athletes not just in the league, but across all professional sports.”
