LeBron James is the Cleveland Cavaliers $500M man

Fans celebrate the return of LeBron

LeBron in Cleveland

LeBron James has been global news this past week after he announced his return to Cleveland Cavaliers via free agency.

The NBA star began his career with the Cavaliers before winning two championships in his four years at the Miami Heat.

LeBron wants to bring success to Cleveland, but his return will also provide a major boost for the city's economy.

Bloomberg reports that LeBron's return could give Cleveland a boost of 500 million dollars a season.

This takes into account the increased ticket sales and other spending.

LeBron is also a money-minded man himself, with his reported Cavs contract tailored to exploit a new NBA TV deal that could earn players more money from 2016 and beyond.

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Miami Heat 

Heat fans are bound to be upset at the superstar’s decision, but they have been handed some positive news. Long-time teammate Chris Bosh opted to re-sign with the Heat, agreeing to a five-year deal worth a reported $118 million.

The move will appease some Heat fans, but President Pat Riley will have to finalize more big deals to make fans happy in the post-LeBron era. 

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