Want to watch LABron in action? Get ready to empty your purses
By Mark Patriarca
The NBA free agency has just started, but Lebron James is already making an impact in his soon-to-be team Los Angeles Lakers.
According to ESPN Sports Business Reporter Darren Rovell, the price for the cheapest Lakers season tickets being sold on StubHub increased over $2,000 following LeBron’s free agency announcement.
In 20 minutes, the lowest Lakers season tickets being sold on StubHub went from $3,499 apiece to $5,800 apiece. pic.twitter.com/DtrUngjNnw
— Darren Rovell (@darrenrovell) July 2, 2018
Just 20 minutes after the news that James is Hollywood-bound broke out, the lowest Lakers season ticket prices on StubHub went from $3,499 to $5,800 per seat.
The King’s value is well documented. The economic boom he creates wherever he plays includes sold-out arenas, fully-booked restaurants, and sky-rocketing ticket prices.
The American Enterprise Institute, in a study, found that James’ impact raised business within a one-mile radius of the arena (both in Cleveland and Miami) by 13%, and raised employment by a staggering 23.5%.
Meanwhile in Cleveland, ticket brokers are anticipating a 60% decrease in ticket value, the same thing that happened when LeBron left Cleveland the first time to go to Miami.