The summer of LeBron James' free agency has oddly begun about 18 months early. Teams are already clearing cap space for his services. But before delving into potential earnings and destinations for LeBron, we have to remember that this will be a personal decision -- LeBron won't necessarily follow the money.
James was drafted first overall straight out of high school by the Cleveland Cavaliers, the team closest to his hometown of Akron, Ohio. Signed at the age of 18, his rookie contract was worth $13 million over three years. Before the contract was up, he inked a five-year, $80 million extension. When that contract ends in the summer of 2010, LeBron will be eligible for free agency, a max-money contract and the next step in his stated global-icon campaign to become the first billionaire athlete. So far, Forbes has put LeBron's career earnings at $270 million.
Of course, the real money comes from endorsements. Out of high school, LeBron signed a $90-million contract with Nike. He's also signed with Coke, Powerade, Upper Deck, Bubblicious, Cub Cadet, State Farm and Microsoft, a total value of around $50 million. LeBron's been on the cover of Vogue and has one of the five highest-selling jerseys of the last 10 years. He donated $20,000 to Barack Obama and started the charitable LeBron James Family Foundation. LeBron deals with business differently than most athletes. He fired his agent in 2005 and began his own business, King James Inc.
On the court, LeBron has become arguably the best player in the game. He won Rookie of the Year, took his team to the NBA Finals and so far is averaging 30 points, eight rebounds and seven assists for the 8-2 Cavs. LeBron will still be in his prime when 2010 rolls around and his Cavs and Nike contracts expire. That year will feature other free agents such as Chris Bosh, Dwyane Wade, Amare Stoudamire, Tyson Chandler, Manu Ginobili and Tracy McGrady. Consequently, several teams have already started clearing cap space.
The Knicks, Nets and Pistons have all made moves this year to ready themselves for the possibility of having a chance to negotiate with The Chosen One. A max contract by 2010 will probably be worth nearly $20 million a year. That is a relative bargain considering the obscene amount he could make without the restrictions of a salary cap or if he played in Europe. Cleveland is perhaps the longest-suffering sports city, not to mention one of the poorest, in the country. LeBron means a lot to Cleveland, and one would think that Cleveland has meant a lot to LeBron. Though the odds-on favorite would have to be Cleveland, it's possible that LeBron, like Jordan or Pele, will want to face a new challenge in the middle of his career. Where else might James play?
The Knicks offer the most marketing opportunities and financial appeal. The new team president, Donnie Walsh, came in with the sole intention of clearing cap space. Stephon Marbury and Eddy Curry, two of the Knicks' three highest-paid players, haven't seen a minute of burn this year as the team tries to put the past in the past. James has apparently bonded with coach Mike D'Antoni, and he's called Madison Square Garden the greatest arena in the world. Last year, James put up 50 points, 10 rebounds and eight assists at MSG while wearing his very own blue and white shoes designed in honor of his favorite baseball team.
The Nets got rid of Jason Kidd and Richard Jefferson. LeBron has said that his favorite city is New York, and his favorite borough is Brooklyn, where the Nets are planning to move. And of course, he and Nets partial owner Jay-Z are tight like this, son.
The Pistons just made a big salary dump by trading Chauncey Billups for Allen Iverson's expiring contract. One of LeBron's closer advisors, William "Worldwide Wes" Wesley, is from Motown, which could influence LeBron's decision. Also, the defining game in LeBron's career came in Game 5 at Auburn Hills.
I'm interested to see where LeBron signs. I hope he comes to New York, but I'm guessing he stays in Ohio. His decision will impact the rest of his life -- and the fate of several franchises. The anticipation builds.
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