Thursday, July 1, 2010

Knicks to LeBron - 'How Does $1 Billion Sound'

A bunch of Democratic big wigs singing for you is good, but is it Billion Dollar good? If LeBron signs with the NY Knicks he could make as much as $2 billion.

http://blogs.forbes.com/sportsmoney/2010/07/lebron-james-what-the-knicks-told-lebron-new-york-and-make-billion-dollars

"The Knicks just finished pitching LeBron James. Their main selling point: You could make a billion dollars playing in New York. You can't earn anything close to that anywhere else.

To make the case, they commissioned a study from marketing consultant Interbrand ... that says LeBron could earn close to $1 billion over his lifetime in salary and endorsements if he makes Madison Square Garden his permanent home--their high-end estimate sees him earning as much as $2 billion. That outshines the estimated $700 million he’d likely earn in Cleveland, the $690 million in Chicago, and $600 million in Miami.

It’s a crafty attack that goes right after their rivals' best case for nabbing LeBron: that his brand is so internationally recognizable, where he plays has little influence on his overall earnings. In fact, the same study claims that any generic free agent could see his lifetime earnings jump 30% by signing with the Knicks.
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