“The LeBron Effect” has been the most powerful economic impact of the 21st century thus far. With three championships and four Most Valuable Player (MVP) awards to his name, LeBron Raymone James Sr is arguably the greatest or one of the greatest players to play the game of basketball in history. The superstar players of the National Basketball Association (NBA) offer more to the city's economy than an NBA championship. Say no to plagiarism. Get a Custom Essay on “Why Violent Video Games Should Not Be Banned”?Get an Original Essay “Where the king goes, the money follows” is a common phrase used by advertisers to express that it doesn't matter where the king goes, the money follows Lebron James, the economic impact will be right behind him. Daniel Shoag, an associate professor at the Harvard Kennedy School, and Stan Veuger of the American Enterprise Institute (AEI), reported that the activities of several restaurants and bars established around LeBron Stadium had a significant positive effect. Harvard studies indicate that within a one-mile radius of Lebron's presence in Miami and Cleveland, restaurant and bar revenue increased 12.8% and 13.7% respectively. Employment rates of established establishments increased by 23.5%. Studies show those grades dropped to 0% when he left the cities. For example, if LeBron agrees to be traded to the New York Nicks for a 5-year contract, reports indicate that Lebron would have an economic impact of $1.7 billion while generating $1.2 million in tax revenue and creating more than 1,200 job opportunities in New York. The Cleveland Cavaliers (Cavs) were a non-existent team until 2003 until the Cavs signed Cleveland-born high school basketball prospect Lebron James, who flipped the lucky switch for the city of Cleveland . Studies show that the season before LeBron James was drafted to the Cavs, the Cavs averaged 11,496 home fans at 55.9% capacity, ranking 29th in the NBA. However, in the 2010 season, Lebron's final season with the Cavs before his return, it averaged 20,562 home fans at 100% capacity and ranked 2nd in the NBA. Lebron made sure there was no difference in attendance when the Cavs were on the road. According to Cleveland's official website, the Cavs averaged 16,087 before the 2003 draft. Then, during the 2009-2010 season, the Cavs averaged over 19,200 away fans, ranking 2nd NBA rank. The Lebron effect caught up very quickly with the NBA season. On the other hand, when Lebron James left the Cavs in 2010, the average home crowd in 2012 was reduced to less than 16,000 people per game. CNBC's Darren Rovell said, "In 2009-10, the Cavaliers required season ticket deposits for the following season if fans wanted priority seating during the 2010 playoffs." However, in 2012, the Cavs couldn't even make the playoffs. Additionally, the average ticket cost has been reduced to less than $45. Some sources report that the Cavs were able to capitalize on Lebron after his departure, however, the statistics point to an apparent financial loss. After that, Lebron James took his talents to South Beach and joined Miami Heat, which had a never before seen economic influence on the Miami Heat franchise. Before the announcement of Lebron against the Miami Heat, 90.5% of the capacity of the home crowd supported the Miami Heat by purchasing tickets worth $3,238.61. After LeBron's decision to join the Miami Heat, which was watched by more than 9.9 million people on ESPN, ticket sales for the upcomingMiami Heat game exceeded $8,200.00 with 100% capacity. Miami Heat revenue nearly doubled from $188 million to $364 million. LeBron leaving Miami after five years left a scar on the Miami Heat franchise. According to Forbes, the Miami Heat's value dropped from $476 million to $355 million upon his departure. As ESPN analysts Darren Rovell and Brian Windhorst predicted, Lebron James' return to the Cavs in prime time would double the value of the franchise. The value of Cleveland's Cavaliers went from $515 million to $1.3 billion in one day. After studying all these numbers, we can say that Lebron James is walking the bank because of the astronomical numbers he brings to his team. Likewise, the Lebron effect didn't stop there. Lebron made money while producing money for the establishments around him. Estimates suggest that Lebron James has earned over $750 million from his endorsement deals and NBA salary. In a Business Insider article, Knowlton states that the billion-dollar lifetime contract with Nike earns James about $44 million per year, while Nike makes about $300 million per year from Lebron's iconic shoes . Studies indicate that the Los Angeles Lakers sold the 4th most jerseys in the NBA during the 2017-2018 season. According to the NBA store, with the arrival of Lebron James to the Lakers, jersey sales increased by 600% in just 3 hours. This is the most notable sale ever by a player via free agency. However, some sports media reports claimed that Los Angeles' 4 million residents, compared to Cleveland's 400,000 residents, were the main reason for this outrageous increase in sales. However, some experts refuted their argument by claiming that Lebron had the second most popular individual jersey sales during the 2016-2017 season. In addition to the revenue he brings in for businesses and franchises, Lebron contributes to a huge amount of charity. He never turns his back to give back to his hometown, Akron, Ohio. He has never forgotten his humble beginnings and is more than happy to give back to those in need. According to the article "Lebron James: Five Humongous Charitable Donations │ Black EOE Journal", Lebron created a foundation of his own called the "Lebron James Family Foundation" to raise and donate money to several charities across the United States. United. The largest charities under this foundation are the Boys and Girls Clubs of America, After-School All-Stars, the Children's Defense Fund, Gabriel's Angle Foundation, Muhammad Ali: A Force For Change, ONEXONE, and most recognize The I Promise. School. In 2010, Lebron James was promoted by ESPN over the decision regarding his trade deals. Money generated from this production was donated directly to the Boys and Girls Clubs of America. Then Lebron made the big decision to take his talents to the South Beach and play for Mami Heat. While LeBron played for the Heat, he was very involved in the Boys and Girls Clubs of Miami. He was successful in getting clubs to provide fair opportunities to every child and to organize extracurricular lessons and projects. The LeBron James Family Foundation partnered with Home Court Furniture and presented the entire Miami club with brand new furniture. They also replaced the roofs at the Miami club and renovated the children's work space. Lebron didn't want any club to benefit from his foundation, so he managed to buy 1,000 new computers for 59 boys and girls clubs in America. Likewiseway, Lebron's foundation launched a program called "After School All-Star" for children in his hometown, Akron, Ohio. Lebron started this foundation as a bike-a-thon, "Wheels For Education", aimed at raising funds to allow children in Akron to have help with their education and a place where go after school” (O’Donnell). However, with the overwhelming support of the LeBron James Family Foundation, the program has grown to help Akron's children in many different ways. According to Nat Berman, the program helped mentor children throughout school as well as in activities outside of school. The program supported children in their reading, math and writing skills while discouraging them from dropping out of school. Studies indicate that this program cost LeBron approximately $40 million. Lebron mentioned that "the goal is to keep kids in school and encourage them to graduate." Recently, the University of Akron partnered with the LeBron James Family Foundation to provide scholarships that cover more than $9,500 in annual tuition per student. Around 800 children currently benefit from this program. Lebron's main goal is to spread this program throughout the state of Ohio. Lebron's most well-known charity work was done recently. The I Promise School that Lebron built for at-risk youth in Akron, Ohio. Lebron James emphasized while speaking with ESPN that "it's not a charter school, it's not a private school, it's a real school in my hometown and that's pretty cool" (Nichols). That being said, I Promise School is very different from a standard traditional public school. I Promise School will operate during the summer holidays to help catch up with children who are falling behind. This school will provide activities for children suffering from different mental problems, such as stress and depression. Additionally, I Promise School will provide assistance to parents in finding employment. Most importantly, the school will provide free bikes, free meals and tuition to the University of Akron for those who graduate from the I Promise School. The opening of the I Promise School also opened up forty-three job opportunities. Lebron mentioned to ESPN that "I don't have a ceiling to improve my game and we as a foundation don't have a ceiling to improve our community, to the point where we have a school." .Keep in mind: This is just a sample.Get a custom essay from our expert writers now.Get a custom essayIn every way, LeBron Raymone James Sr is more than a basketball athlete. He is an NBA superstar, businessman and also a generous philanthropist. Lebron James is on his way to becoming the greatest player of all time while breaking world records. The surrounding towns where it is traded prosper because the economic development of the company and the franchise relies on it. Everything he does affects an entire economy around him. Still in his 30s, I think Lebron James has a lot more to offer the world in the years to come.Works CitedBanks, Alec. “The LeBron James Effect: A One-Man Economy.” » Highsnobiety, Highsnobiety, July 14, 2018, www.highsnobiety.com/p/lebron-james-effect-econony/.Boys & Girls Clubs of America. “$240,000 donation from LeBron James results in new Boys & Girls Club in Akron; New Facility - Renamed the LeBron James Boys & Girls Club to serve hundreds of youth. PR Newswire: Press Release Distribution, Targeting, Tracking and Marketing, June 30, 2018, www.prnewswire.com/news-releases/lebron-james-240000-gift-results-in-new-boys--girls-club- in- 2018,.