LeBron James returned to his hometown in 2014 and promised to lead the Cleveland Cavaliers to a title — and he has finally accomplished his mission. Following the nail-biting Game 7 of the NBA Playoffs with the Cavaliers vs. Golden State Warriors, the Cavs earned their first championship in franchise history, beating the Warriors 93-89.
Winning the NBA championship isn’t the only victory Cavaliers fans are celebrating. Prior to Sunday’s win, Cleveland hadn’t won a major sports title in 52 years, causing many to believe the city was cursed. Find out how dominating the NBA finals will impact the value of the Cavaliers franchise and the net worth of star players like LeBron.
Championship Will Likely Boost Cleveland Cavs Value
Worth an $1.1 billion, the Cleveland Cavaliers had the 12th highest value in the NBA, according to Forbes as of January 2016. Purchased by Dan Gilbert for $375 million in 2005, LeBron James’ return in 2014 is credited with pushing the team’s net worth into the billions. While his return didn’t increase the price of Cavs tickets, it boosted revenue by more than 40 percent, as a result of higher attendance numbers and more lucrative sponsorships.
It’s too soon to tell the impact the title win will have on the value of the Cavs, but the team will receive a lucrative bonus for their victory. The playoff pool for the 2016 NBA finals totaled $15 million, according to Fox News, with the Cleveland Cavaliers receiving $2.66 million to split among players and the Golden State Warriors taking home a $1.76 million consolation prize.
The 2016-2017 Cavs schedule has yet to be released, and only time will tell the impact this championship win will have on ticket prices and the franchise as a whole. Until then, find out the net worths of some of the top Cavs players.
LeBron James Net Worth: $340 Million
After becoming the third player in NBA history to score a triple-double in Game 7 of the championship, James was unanimously named 2016 NBA Finals MVP, earning his $23.2 million Cleveland Cavaliers paycheck. His NBA salary, combined with $54 million in endorsements, sent his total earnings for 2016 at $77.2 million, according to Forbes. In total, the star Cavs forward’s net worth is $340 million, according to Celebrity Net Worth.
Kevin Love Net Worth: $44 Million
Credited as a major driving force leading the team to their championship victory, Cleveland Cavaliers forward Kevin Love earns an average annual salary of $22.64 million, according to Spotrac. Kevin Love’s total net worth is $44 million, according to Celebrity Net Worth.
J.R. Smith Net Worth: $20 Million
Cleveland Cavaliers standout shooting guard J.R. Smith is considered an integral part of the team’s rise to victory. J.R. Smith’s net worth is estimated at $20 million, according to Celebrity Net Worth, with an estimated $6.5 million annual salary from the Cavs.
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