*While some LeBron James fans may have gripes about his leaving the Miami Heat to return to Northeast Ohio to rejoin the Cleveland Cavaliers, word is the return of the star forward will have an astonishing $500 million a year impact on the local economy as a result of the expected boost in direct and indirect spending. This according to Bloomberg.com.
Prior to James’ exit the first time, he had been with the Cavaliers from 2003-2010 without much fanfare in regard to attract other high-end players to the team; but since that time, his star power has increased, and now, with two NBA championships behind him, so has his worth.
The Cuyahoga County Fiscal Office has already forecast what an increase in attendance motivated by James’ return will generate – about $268 million. And this does not even tap into the money that will come from the spending windfalls at hotels, restaurants, and convention business; along with an anticipated $34 million increase in annual spending by fans at the games.
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