Written
by Steven Mulvey
Many
will say that LeBron James is one of the best basketball players ever in the
history of the National Basketball Association (NBA). What many don’t know is
that he was much more than your average basketball player and professional
athlete; he affected Cleveland’s economy before his signing with the Miami
Heat. The city of Cleveland, Ohio suffered greatly within the last few years
having an unemployment rate of about 16.4 percent. When LeBron left Cleveland, Cleveland’s
unemployment raised around 1.5 percent. Although that doesn’t seem like very
much, it happened within the matter of three months. Also, to think
unemployment was affected by the leave of a professional athlete is hard to
believe.
An
unemployment rate that grows 1.5 percent in just three months is unbelievably
high, especially “for a city nearly half the size of Detroit, that’s a pretty
big hit” (Cleveland Cavaliers). Also, one year later, Cleveland became the
“eighth most dangerous city in America and rivals to Detroit for having the
highest poverty rate in the country” (Cleveland Cavaliers).
During
LeBron James free agency, the Chicago Bulls were competing to sign the NBA
superstar. A Chicago business article stated that “James would bring 2.7
billion dollars” to Chicago (Cleveland Cavaliers). That is a lot of money to
add to a city, but think of what that kind of money could do to Cleveland’s
decreasing economy and growing unemployment rate.
LeBron
gives many companies a lot of business. While in Cleveland, many citizens would
buy tickets to watch their local basketball team, the Cleveland Cavaliers.
Before attending the game, they may want to purchase some jerseys or other
apparel to wear to the game. After the game, they may be hungry and want to
stop at a restaurant near the arena. Right here in this situation, many
different companies, businesses and restaurants were affected. With the
departure of LeBron James, the team will not be as good, causing many to not
want to go out and see their team. Of course a loss is not guaranteed because
of one man, but without their team leader and league most valuable player,
their chances of failure are much higher. Another important aspect is the
postseason playoffs and finals. Since their chances of advancing to the finals
are much worse, ticket sales will go down significantly. Since NBA finals
tickets are more scarce, viewers are
faced with the choice to pay much
more to attend the games than they would pay for regular season matches.
LeBron
was faced with a choice, stay in
Cleveland which is hometown, or take his talents to South Beach. He made his
decision to sign with Miami where the big three came together. Since LeBron has
signed with Miami with the combination of the big three, they have had several
successful seasons ending with a few championships. LeBron James and Dwyane
Wade are both in the top 10 for jersey sales, LeBron James at number one and
Dwyane Wade at number seven, giving Miami businesses a lot of money from jersey
sales.
Giving
companies business like this is what keeps an economy successful and growing.
Professional athletes don’t always affect the economy but LeBron proved he made
an impact. Nobody says is better than journalist Adam Miller, saying “if James
thinks his effect lays strictly in wins and losses, he should think again” (Cleveland
Cavaliers). It goes beyond sports for some athletes, showing that LeBron James
did affect Cleveland’s economy and now affects Miami’s.
Works
Cited
I was not expecting the effect of Lebron being in a city, as in the billions, because he isn’t even worth one billion. Having Lebron in a small market like the Bucks or the Bobcats could change the whole city, even for the people who don’t enjoy basketball. I wonder how much Michael Jordan brought while he was playing for the Bulls.
ReplyDeleteIt makes sense that professional athletes have a significant affect on certain cities economies. When a city has a good professional sports player, or many professional sports players, it makes the people in that city want to attend games rather than if they have people on their sports teams that aren't very good. Not saying that the economy for a certain city would be bad if they didn't have very good professional sports players, but it's weird to think how if could change if a good player came in and and changed their teams.
ReplyDeleteI think it's amazing how one person can have such an effect on a city. It's crazy how dedicated some people are to sports, and after reading this article it makes sense as to why money lacked in the city after LeBron left. It's just like the Milwaukee Bucks, not many people go to games anymore because they don't have a stand out player and also they don't have a good winning record which doesn't interest the fans. LeBron is one of the world's best basketball players so wherever he goes money will follow. I still think it's bizarre how one person can effect a city and they money brought into it. Not many people realize the bigger picture when a good athlete leaves or comes to a team.
ReplyDeleteThis year Lebron's contract is up again, he will be faced with making another decision. Places like Chicago and even back to Cleveland are back in the mix. It will be interesting to see what he chooses to do. If he takes that big of a toll on a cities economy, it is interesting to see if that will have any influence on his decision.
ReplyDeleteIt’s interesting to know how one person can affect the economy in the way that he seemed to. You made an interesting point about not only the ticket sales going up, but also the merchandise sales like the jerseys, and also other businesses that don’t have any connection to him, like the restaurants that people will go to after the games. It's very interesting because that's not something people normally think of, but it does have a great impact on the city’s economy.
ReplyDeleteIt's very interesting to see how much of an impact a basketball player can have on an entire city, let alone a state. How much impact did the big three have on Miami’s economy when they first joined the Miami Heat? I, along with many, are excited to see the next team that Lebron James decides to join and what kind of impact he will have on that cities economy.
ReplyDeleteI agree with what you are talking about. Lebron James could affect any cities economy just for playing for their team. If Lebron came to Milwaukee, to play for the Bucks, our economy and our unemployment rate will improve. I have a questions, Did Florida's economy and unemployment rate increase when he went to play for the Heat?
ReplyDeleteOne man cannot cause the unemployment rate to rise 1.5 percent. There has to be other economical factors that contribute to this significant rise. Cleveland has a population of 390,928 which means 5,863 people either quit their job or got laid off after James' departure. There has to be other reasons behind this rise in unemployment besides the relocation of their beloved athlete.
ReplyDeleteIt's insane how much one athlete can affect the economy. As in Milwaukee there is no outstanding basketball player that people around the U.S want to see. Which is why Milwaukee is empty when the Bucks play. If Milwaukee had a star player like LeBron people would pay whatever to get into the game and see him in action. Along with that, I think its crazy that one star athlete can have that affect on the economy. I would love to see the Bucks get a player that would be outstanding which would get more people around the area to come and watch.
ReplyDeleteTo think that one person, even if he is famous, can affect a single city in this way is impeccable. It makes complete sense that the different sales and different restaurants would have business booming during these times, affecting the economy by the supply and demand of the jerseys, tickets, etc. Of course for any celebrity, there will be souvenirs to buy for people to remember that specific event, it just really puts it into perspective when it pin points one star.
ReplyDeleteThis was a very well-written post and I found it very interesting. I never thought of a sport team’s effect on businesses, and I did not know LeBron James affected one city so greatly. To have a 1.5% unemployment increase in just three months is unbelievable, and it must have been very difficult for the citizens. I also thought it was a little bit strange that the crime rate increased just because a player left - it seems like an overreaction and unnecessary. Overall the post was very insightful and I learned a lot about this surprising information on a professional athlete’s impact on the economy.
ReplyDeleteThis was a very interesting post. I think we all realize how dominant and popular Lebron James is in the NBA but to see how much he effects the city he plays for is really eye opening. I'd love to see how much money Miami has made after signing the "big three". Not only is Lebron an outstanding athlete but is also giving companies buisness, making the economy grow quicker. Great Post!
ReplyDeleteThat is nearly unbelievable that one man can effect thousands of jobs. I would believe that someone of his talent and status could bring business around, but a drop in 1.5% of employment seems quite excessive. I'd believe that perhaps there were other factors that contributed and his leaving was just a tipping point, because although basketball games effect ticket sales, apparel stores, and restaurants, it seems rather ridiculous that the lay off that would occur from his leaving would add up to 1.5% of jobs in Cleveland.
ReplyDeleteYou made very good points when talking about Lebron's effect on a city's economy. A popular player like Lebron has such a effect on people everywhere and heavily influences what they buy. For instance my cousin is obsessed with King James and will buy anything that has to do with the Heat or Lebron. He is willing to pay more just because Lebron's name is on it. An entire fan base like that is enough to kickstart any city's economy. Well written. Awesome post!
ReplyDeleteThis was a brilliant post! It helped people to look at economics as more than just a class we are forced to take in high school. Relating economics back to LeBron James is insightful as well. It is amazing that one man could have such a great affect on a city. The fact that he may have caused the unemployment rate to increase by 1.5% in just 3 months is insane, even when large businesses shut down, cities do not take that much of a hit. This article goes to show just how much one player of a sports team can influence every aspect of a city, especially the economic aspect.
ReplyDeleteVery interesting topic, with a huge name like Lebron James it brings much attention to a large problem. I do agree with you on how a player or a team can affect an entire city like Cleveland where the athletic teams are the main attractions in town. This year is a good example, the Bucks haven't had to much success and you can see there attendance going down which causes the Bradley center to lower the price of tickets so more people will come to the games. Lowering the ticket prices can cause many problems for the Bucks.
ReplyDeleteI like how you picked this topic because it's not something people usually think of when a huge name like Lebron James is brought up. It's just like the what the Olympics or the Super Bowl does to the city it is hosted in, but more of a permanent effect because they are from a single city. Imagine what Lebron could do for smaller cities if he was from somewhere else...he would take the city on a 360 turn! People can say that professional sports are not important but clearly through this article and other economic evidence of the impact of these athletes and athletic events on cities economies it is obvious that they have changed this world economically as well as socially.
ReplyDeleteIt's crazy to think that the loss of a professional basketball player actually affects the economy of the city. People are so centralized around sports that unemployment went up 1.5% within the course of three months. It's unbelievable. I liked that you picked this topic, because you clearly know a lot about basketball and felt passionate about what you were writing about. It was very well written and interesting to read about.
ReplyDeleteThis was a great topic. It kept me interested since LeBron James is a very commonly known player. It wasn't just about boring statistics that no one cares about, this article keeps people hooked and wanting to read more because he is so popular. He is only one man and he has the ability to affect an entire city, pretty crazy. I definitely agree with the fact that no matter where he goes he would make the economy better because he is so well known and lots of people would want to see him.
ReplyDeleteIts incredible how one person can have an impact on and entire state and cities with their decisions on what they do and what they purpose to do as well. Bringing close to 3 million dollars to just once city again can be life changing for not only the city but the people as well with the economy of job growth and then maybe more just to add on to the city. But maybe there could've been other places to put the money like when he left with the crime rate going up, it could've been put there or someplace else. However it was a very interesting post and it was nice to see! good job!
ReplyDeleteI liked how you went more outside of the box and chose a topic of interest to you. Before this article I had no idea how big of an impact a professional athlete can have on the economy of some cities. I think that we as a society could actually change the economies of certain cities by moving some of the mvp's of different sports to those areas. It's crazy to think that we could actually change the economy by doing this. I thought it was good that you had both the economic loss that Cleveland was faced with when losing Lebron, along with the economic boost Miami had when Lebron moved. Your article flowed well and shared a good message.
ReplyDeleteI never knew that a single basketball player could affect Cleveland's economy so much. I think it's really good that you picked this topic to write about because many people wouldn't think that something like this would put such an impact on the economy. It’s good to know what things in our economy affect it negatively and positively. This article just shows how much people revolve around sports and don't even realize it.
ReplyDeleteIt is interesting to observe how consumers choose to spend their money in a free market and how this directly impacts the economy. Here in America, sporting events, such as NBA basketball games, are a major part of our culture, causing them to bring in money from consumers. It is interesting to see how losing one player causes such a change in unemployment in the city. Again, in the free market, the consumer and the producer possess the choice and every choice has a trade off.
ReplyDeleteI never realized how much of an impact a player has to a franchise and a city. Due to his departure, the revenue of apparel and merchandise went down, so some businesses lost money by endorsing his T-shirts, which has a major impact on the profit of an organization. But I never really knew how much of an extent Lebron had to Cleveland. Because he left, Cleveland was no longer a contender for the playoffs, and that has an effect on the fans. Without fans, there is no room for profit; and without profit, businesses will not want to spend money for supplies if no one is going to buy what they put out in terms of apparel. Again, one person can have a major effect on a franchise due to their presence in their certain city. But in this case, it’s Lebron James leaving Cleveland.
ReplyDeleteIt crazy to realize that one single human being can that much affect on a cities economy. Just their presence in a town can make that area that much better. I think it's really cool and different that you chose this topic. Clearly, this topic interests you and not a lot of people know how much the NBA affects us. It's good for us to realize that the people who surround us have a huge impact in the economy! It's so easy for people to say that professional athletes have little to no impact on the economy but in this case they made a huge impact.
ReplyDeleteIt is kind of insane to think about how much a professional sports team can effect a city in this country. Now looking at how much one player can affect a city that is kind of insane. Lebron James is probably just one example of how a player can affect a city. There are probably plenty of other players that generate a lot of revenue for their cities who aren't noticed until they are gone. That to me is insane to think about just because generally sports are there for entertainment but now it is getting into economics and bringing in more revenue and it really helps you to keep in perspective that the NBA and other leagues are indeed a business in it for making money and providing entertainment.
ReplyDeleteThe fact that Lebron James had that much of an impact on an entire city is just absolutely astounding. the economy of a city should be able to thrive off much more than the presence or absence of a sports player. Granted he brought jersey sales and helped the stadium sell more tickets as people wanted to see Lebron James play, an entire city should not benefit or suffer just because of one man. By no means am I questioning or doubting the facts presented as I agree and can see they are the real deal. What I am saying is that it is just crazy that James can have that much of an impact on a whole city's economy regardless of whether or not each place has anything to do with sports.
ReplyDelete