LeBron James’ on-court skills were in full display last night at the Meadowlands, where his array of dunks and jump shots produced 26 points as the Cavaliers whipped the Nets, 111-92.
Those skills will be in high demand when James becomes a free agent this summer when plenty of teams like the Knicks and Nets will be bidding for his services. But if there’s any real chance of him leaving Cleveland and making this area his new residence, it might be better to appeal to LeBron James the businessman than the basketball player.
James fancies himself as sports’ next business mogul. Already earning nearly $30 million annually in endorsements, he gets financial advice from Warren Buffett and has his own firms handling all of his business and marketing ventures. He is LeBron Inc., with dreams of taking his brand globally.
But to do that to its fullest, he should play in the New York area, according to some experts. Steve Rosner, co-founder of 16W Marketing based in East Rutherford, said James can sell plenty of sneakers from Cleveland. But he can become a tycoon playing in New York.
“If he would come to either the Nets or the Knicks the business opportunities for him to continue to grow his brand would be much greater in a metropolitan area as opposed to Cleveland,” Rosner said. “Endorsements can always find where he lives, but living here and being the face of the franchise will give him the opportunity to enter into the type of discussions that might not be available in Cleveland.”
That might sound like arrogant New Yorker talk. But Brandon Steiner of Steiner Sports thinks James never will reach his economic potential until he plays in a metropolitan area.
“If he stays in Cleveland, is he ever going to get his due being in a small market?” asked Steiner, who works with 5,000 professional athletes nationwide. “Is he ever going to get what he’s owed being a true mega-star without playing in a major market? New York is really the only major market that has room for him.”
James didn’t say anything about his impending free agency last night, but had kind words for the Nets. “I think it’s a really good franchise,” he said. “They’ve got a bright future. We’ll see what goes on in the future for this team.”
Whether that future includes James is doubtful unless his friend and Nets part owner Jay-Z can convince him there are benefits to playing here beyond basketball.
“This is the business capital of the world, and there’s more international business done out of New York than Cleveland or any other market in the NBA,” Rosner said. “It’s short-sided to think only about his endorsement portfolio. Those people will always find him. But his business portfolio has the potential to expand enormously if he’s in this environment full time.”
The economic impact James would have in the metropolitan area would fatten a lot of wallets besides his own. Greater attendance means more people in the restaurants and bars before and after games; jerseys and sneaker sales would reach new highs in area sporting-goods stores, and television ratings for MSG or YES would lead to more advertising revenue.
“I have this argument almost every day,” Steiner said. “Someone says, ‘There’s no way we’re getting LeBron.’ I tell them, ‘I don’t see how we can afford not to.’ There’s such an upside. I sit with my fingers crossed. This kind of thing would be humongous.”
In the past, James has said the ability to win a championship would be a priority in his decision-making, something that likely isn’t a realistic possibility immediately should he sign with the Knicks or the Nets. Maybe he’ll settle for being king of the business world first.