Sportress of Blogitude

Say What? LeBron’s Spurning Of The Knicks Likely Cost City $58 Million

According to an economic impact study commissioned by Mayor Bloomberg, the fact that LeBron’s Magical Mystery Tour landed him in Miami instead of the Big Apple has robbed the city coffers of an astonishing sum of $58 million, although one can only guess how the bean counters came up with that number. Sounds pretty absurd to me, but hey, I’m no mathemagician. Via the New York Daily News:

“A guy like LeBron has a trickle down effect,” said Steve Rosner, a sports marketing expert who runs 16W Marketing in East Rutherford, N.J.

“It starts with the team, but many of the other businesses that are connected to the sports world profit as well,” he added.

The Bloomberg study pegged the LeBron factor at $57.8 million per year, assuming James would fill hotels, restaurants and shops by leading the Knicks into the playoffs.

Oh, it’s $57.8 million, not $58 million? Well, that’s a different story entirely. I can believe that. However, I do have some issues with their calculations. Did it have to be LeBron that led the Knicks to the playoffs? Who is to say that the Knickerbockers won’t make the playoffs next season in spite of losing the LeBronathon?

(checks roster for New York Knicks)

I see. Alright, maybe this study does have some validity. My mistake.

LeBron James joins Miami Heat: New York misses out on $58M annual windfall, study shows [New York Daily News]