I think it is time that I throw my expert opinion out there on the LeBron James situation that occurred over the summer. Many people say that LeBron James brand is taking a hit since "The Decision." Mark Cuban said he lost a billion dollars in brand equity but I disagree maybe he lost a billion fans but not brand equity.
Let’s look at his brand through the social media aspect. He opens a twitter account two days before "The Decision" and now currently has over 900,000 followers and close to 4 million on Facebook. I'm sure that sponsors are going to want to capitalize of LeBron's social network following. No wonder Dan Gilbert was so angry at LeBron's decision he is going to lose millions of dollars in sponsorship deals for the Cavs.
You can say all you want about how he handled it could've have been a lot been and his PR team was stupid for letting him do this. It is evident that it was a completely brilliant business decision. The buzz he generated for months leading up to and now after has soared dramatically. I cannot imagine the kind of buzz that will happen if the Heat wins the championship this year.
LeBron said it best it is a business (the NBA). What a brilliant business man he is.
Ryan Nguyen
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