From an economic standpoint, it will provide an added jolt to the depleted coffers of the city and surrounding county. That’s because the success enjoyed this year will undoubtedly mean a jump in ticket prices, and with the city and county getting an eight percent cut on each of the 20,000+ tickets sold, that means more revenue will be available for everyday spending.
The impact will also be felt in other areas related to the team. Apparel related to a championship will be sold out of the team store in Quicken Loans Arena as well as local stores, and it will go quickly. That means sales tax will be paid on each item, which means more money for the county, a fact that was evident even during the first two months of this season. During that period when the team was plagued by inconsistency, sales tax revenues still increased by 10 percent for a total of $1.55 million.
There’s also the possibility of additional bars and restaurants dotting the landscape in downtown Cleveland. The ones currently there have seen big jumps in business this year, so there seems to be plenty of money to go around.
(Continue on next page!)
The Cleveland Cavaliers are facing an uphill battle in their second-round series against the Boston…
Per NBA insider Shams Charania, the Cleveland Cavaliers believe they have what it takes to…
The Cleveland Cavaliers squandered an opportunity to reach the second round of the playoffs for…
Cleveland Cavaliers head coach J.B. Bickerstaff seemed to call the officiating into question following his…
Former Minnesota Timberwolves and Boston Celtics star Kevin Garnett directed some criticism the Cleveland Cavaliers'…
Cleveland Cavaliers center Jarrett Allen suffered a rib injury due to an elbow from Orlando…