Jun 29, 2010

PLAIN DEALER: How much is LeBron James worth to Northeast Ohio?

COLUMBUS- The Cleveland Plain Dealer released a comprehensive report on the economic impact that LeBron James has in Cleveland, and what Northeast Ohio stands to lose if he decides to play for another team. Local businesses stand to lose almost $48 million per season, according to the report. Last week, the Ohio Democratic Party launched a website to highlight Congressman John Kasich's indifference over whether or not LeBron James would stay in Cleveland. The parody website, www.ohioansagainstlebron.com, includes a web ad with audio of Kasich's comments on Fox News Radio.

Excerpts of the Plain Dealer article follow:

"For three years, Quicken Loans Arena has seen sellout crowds of more than 20,500. Virtually every one of those people came to watch Northeast Ohio's biggest sports star."

"Say LeBron leaves and the crowds shrink to the size they were before he arrived: a little under 14,000 fans a game. That's 6,500 fewer people buying tickets, paying for parking, visiting restaurants, celebrating in bars and renting the occasional hotel room for the night."

"Positively Cleveland, the city's convention and visitors bureau, estimates that the average fan spends $180 per game to see the Cavs at The Q, meaning the smaller crowd would cost businesses $1.2 million per game. Multiply that by 41 home games, and you have $48 million."

...

"John Skorburg, an economist at the University of Illinois at Chicago, esimates the James-led Cavs could generate $15 million for Greater Cleveland for each home playoff game. That's based on a sellout crowd at the Q and 5 percent of the population watching the playoffs -- eating, drinking, bar-hopping, renting cars, buying jerseys and so forth. He figures an average of $100 per person."

"So on top of $48 million, add 10 home playoff games -- a total of $150 million, according to Skorburg."

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Read full article here.