LeBron Took a $48 Million Pay Cut. Philadelphia Got Rich

The Philadelphia 76ers are paying LeBron James less than 4 million dollars this season, less than his rookie salary from 2003. It's the biggest pay cut in NBA history. Yet within days, Sixers ticket prices exploded, his jerseys sold out, and sponsors lined up. How does a pay cut make everyone else rich? Because LeBron isn't really an employee. He's a portable economy. We follow the money through Philadelphia, look back at what happened in Cleveland, Miami and Los Angeles, and find a twist: the team he left is doing just fine. Chapters (matched to the 5:11 video): 0:00 A pay cut that makes everyone rich 0:35 The biggest pay cut in NBA history 1:16 Why Philadelphia? 1:30 The windfall: tickets, jerseys, sponsors 2:39 History repeats: Cleveland, Miami, LA 3:36 The twist: the Lakers are fine 4:16 The risk 4:49 A portable economy #LeBronJames #Sixers #BusinessOfSports