LeBron James has previous in this. Sixteen years after “the Decision,” when he infamously waited for a prime-time television special to reveal to the county where he was “taking his talents” (it was South Beach), the elder millennial basketball superstar has the nation in suspense again. The 41-year old James, going into his 23rd year in the NBA, is being openly courted by five different cities, and there is a huge economic payoff in the balance for each one.
The Bay Area, Minnesota, Philadelphia, Miami and Cleveland have emerged from the pack and are openly vying for the King’s contract, with hundreds of millions, let alone a shot at an NBA championship, at stake.
According to a 2018 study by the American Enterprise Institute, James has left a Taylor Swiftian macroeconomic trail behind him. AEI called it a “statistically and economically significant positive effect” on the economies within a mile of the stadium where James has played.
Researchers from the study found a 13% boost to restaurants and other similar establishments within a mile of James’ home stadium, and employment at those establishments jumping 23.5%.
James has played for three teams throughout his illustrious career: the Cleveland Cavaliers, close to his hometown of Akron, Ohio, the Miami Heat, and most recently, the Los Angeles Lakers. Cleveland and Miami are both reportedly courting a James reunion, while Philadelphia, Minneapolis and San Francisco inserted themselves as strong contenders.
