In an ESPN prime-time presentation, King James announced that he would be joining the Miami Heat, alongside Dwayne Wade and Chris Bosh - an announcement that sparked echoes of sharp disappointment from Cleveland and resounding cheers from South Beach.
Whatever the dispositions of the third parties, they are irrelevant. James insisted that his decision is purely business and he must do what's in his best interests. He listened to pitches from 6 teams, weighed his options and courageously left the nest to finalize his choice of Miami. A careful strategy that reveals James' performance on the court and his business savvy are of high caliber.
While the media defined the preceding days of the decision, James' announcement that he'd joined the Miami Heat will be footnoted as a moment that changed sports team history. After weeks of analysis involving salary, branding, locale market value and championship potential data, James concluded that winning was paramount on his list.
Never has a high-profile player sacrificed a max-contract (Miami didn't necessarily offer the most lucrative deal) for the sake of championship dreams. Sacrificing a max contract hardly puts James' finances in peril. In Miami, he will save approximately $1.01 million dollars in state income taxes next year. The other prospective cities had higher tax rates, according to "The Wall Street Journal." His move to the South is not only a story of what the city can do for him but what he can do for the city as well.
While an exact figure for his contributions in Miami have not been finalized, James will likely receive an estimated $15 million. The bulk of his capitol gains and brand enhancement opportunities will be expressed in his multi-million dollar endorsement portfolio.
What can be taken from James' decision is that one should never deny himself the opportunity to strengthen his legacy in order to please others - a lesson that is applicable on and off the court.
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