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Thursday, July 8, 2010

Ask Wall Street Where King James is Headed

If you want to know where LeBron James will announce he is going to be playing this coming NBA season, all you have to do is ask our friends on Wall Street. Shares of Madison Square Garden Inc (MSG), the parent company of the NBA New York Knicks, have risen sharply in the month of July on the bet that LeBron will join the Knicks to begin the coming season.

Yesterday alone, shares in the company rose $1.30 a share to close at $21.57 and the volume spiked from 254,119 shares on Tuesday to 1,716,345 shares on Wednesday after news that LeBron was making his announcement on ESPN from Greenwich, CT caused traders to speculate that he would be joining the Knicks. the team has a practice facility 11 miles from Greenwich in Westchester County, NY.

This chart below, from CNBC.com, shows the roller coaster ride the stock has been on the past 5 days on LeBron James free agency speculation:



Today, however, the stock has dropped to its previous level on news that it is more likely LeBron James will join the Miami Heat with Dwayne Wade and Chris Bosh. So much for that! We all will know tonight after ESPN airs a self indulgent hour long special on the decision.

Thursday, July 1, 2010

Where Will LeBron Go?



The LeBron James sweepstakes has begun. Where will he end up is anyone's guess. That he will make a lot of money wherever he goes is not a question. According to reports on ESPN, he is planning to meet with two teams a day until he makes his decision. He met with the Nets and Heat today already.

LeBron James wants one thing, to win. He will make a lot of money no matter where he goes, so he isn't as concerned with that as he is a ring, if you believe comments he's made in the media. The hiring of Byron Scott to be the coach of the Cavaliers puts an interesting wrinkle into this whole situation. Who wouldn't feel bad for the new coach if LeBron goes elsewhere? Talk abut missing the boat...

The Cavs can win, they are built to win, but they need him to do it. The Knicks can sign two top level free agents, reports suggest they are targeting Bosch and James. The Nets can also sign two as well. The Heat can sign all three, so can the Bulls, according to various reports. The Cavs are serious about winning, they are serious because they need to show that to keep the most popular player in the league who also happens to be the most important player in the history of their franchise.

Of course this, just like any other report, is pure speculation. the only guy who knows what he wants to do is the man himself. Maybe he just wants the Cavs to sweat it out. He's from Akron, Cleveland is his town. Though he is a huge fan of Michael Jordan and New York; and close friends with Jay-z (part of the Nets ownership group), he might just decide to stay home for a few more years. It's not like this will be the last FA contract he signs.