Every dunk is another dollar. Every 3-pointer is another dime.
LeBron James is the most prized basketball prospect ever, and he’s Akron’s prodigal son.
He’s also big business.
As James’ celebrity senior year ends today with him watching from the bench while serving the second game of a suspension, estimates are that he has generated approximately $500,000 for his high school, becoming an 18-year-old slam-dunking cash register.
With repercussions of his spectacular but controversial season ranging from Ohio to Brooklyn, prep sports may never be the same.
Here’s a closer look at the business of a phenomenon:
Expectations were soaring for this year’s St. Vincent-St. Mary team that, including James, started five seniors. The school’s braintrust prepared a cross-country schedule featuring showcase tournaments and powerhouse opponents. SVSM also decided to continue a practice begun during James’ junior year of playing most home games at the University of Akron’s JAR Arena.
The reason? SVSM’s court, while painted Fighting Irish green-and-gold and dressed with championship banners and classic wooden benches, fits just 1,700. The JAR holds 5,500.
SVSM also raised ticket prices for JAR games. Students still got in for $3, but non-students were charged $9-$15. SVSM insists that the base ticket price ($101-$125) is the same as last year’s, but with two fewer games this season, the per-game cost is greater.
Contrast those actions with that of Farragut Academy (Ill.) in 1995 and Lower Merion (Pa.) H.S. in 1996 when Kevin Garnett and Kobe Bryant, respectively, were seniors. Their schools played nearly entirely in-state schedules, received no appearance fees and maintained ticket prices ($2 for students, $3-4 for non-students).
Times have changed. If you add SVSM’s ticket income to road appearance fees – some top out at $15,000 – and revenue from the two games played at SVSM’s gym, estimates reveal that the grosses should be approximately $500,000 (SVSM AD Grant Innocenzi insists the number is closer to $400,000).
How much is that? According to SVSM financial records, the team brought in $298,305 last season and $79,279 the season before. That means this year’s sum – whatever it truly is – is more than the two previous years combined.
Of course, there are expenses, and calculations based on conversations with Innocenzi and confirmations from Akron facilities director Paul Hammond reveal that per-game costs can reach $12,000. Even with those, and the appearance fees SVSM pays to visitors, estimates are that SVSM nets approximately $40,000 per JAR game.
“That’s the high end,” Innocenzi said. “Some of the games are a lot less than that.”
Not everyone was thrilled with the means to the profits, and plenty of Akron parents protested the ticket hikes.
“Their complaint is they’ve gone to watch their son play at other venues and maybe a ticket has been $4-$5 and all of a sudden they go watch at SVSM, and it’s $12 for an adult,” said Ohio High School Athletic Association commissioner Clair Muscaro, whose bylaws don’t restrict ticket prices.
SVSM also had backers who stressed that there’s never been a school in this situation. Nor was there any blueprint for handling it.
Innocenzi and SVSM business director Tim Rickus also point to the overwhelming demand of 19,000 alumni, who gladly pay to see their alma mater’s games.
“It’s entertainment dollars,” Rickus said, “and that’s what these people want to spend.”
Some schools are actually grateful to SVSM, noting that they benefitted from LeBron-mania with bigger crowds, higher ticket sales and more exposure.
“The only complaint was that I didn’t have enough tickets,” Mentor AD Jeff Toringo said.
Even Akron’s mayor, Donald Plusquellic, pledged support.
“I don’t think they’ve done anything other than react to the circumstances, like moving to the bigger gym,” said Plusquellic, who doesn’t believe James has been exploited. “I think it was every bit trying to take care of their fans as it was trying to make extra money.”
But there may be repercussions. Indeed, Muscaro told The Post that the OHSAA will consider regulating ticket prices and travel schedules next year.
“There has been some concern out there that has been brought to our attention,” he said.
And what about outside Ohio? What about next year’s James – Lincoln dynamo Sebastian Telfair, the country’s best junior? Paragon, a marketing company which helped deliver two SVSM games to ESPN, has initiated preliminary talks with Lincoln. Perhaps the dominoes are lining up all over again.
As for James, he’ll be in the NBA next season, a millionaire prodigy and the latest phenom to go from preps to pros.
But based on his unprecedented earning power and the ripples that may follow, James may be the first phenom to have done something else: Bring the pro game to the high school level.