Now that LeBron James is back home in Cleveland, ticket prices for the Cavaliers' home opener are going through the roof of the Quicken Loans Arena.
According to StubHub, ticket prices on the secondary market for Thursday night's game against the New York Knicks range from $1,164.09 to $13,925.25.
James, the 10-time NBA All-Star and four-time MVP, opted in July to rejoin the Cavaliers after four years with the Miami Heat.
The Cavs' season-ticket allotment of 12,000 seats sold out by 10 p.m. on July 11—less than half a day after James told Sports Illustrated, "I'm Coming Home."
The team has set up a lottery to give as many fans as possible a chance to buy thousands of remaining home-game tickets. The team's ongoing monthly registration process ends Feb. 26 for regular season home games.
Despite the surge in demand, Cavs CEO Len Komoroski said the team did not raise season-ticket prices, and the average price for individual game tickets would remain the same as the top-tier games from last season.
"We have been very conscious to treat our fans with the same degree of respect and integrity as when we were in our rebuilding mode," he told CNBC for a story in September.
According to TiqIQ, the average price for a Cavs home game on the secondary market as of Wednesday is $358.88, the highest secondary market price in the NBA.
The LeBron Effect was already being felt well beyond the basketball court. The return of James, who in his seven seasons with the Cavs became its all-time leading scorer, has experts predicting he could bring a windfall to Cleveland itself, which has been pummeled economically for decades by the decline of manufacturing.
LeRoy Brooks, an economist at John Carroll University in Cleveland, estimated that the economic impact for the city to be $350 million to $500 million in spending on hotels, restaurants, parking, taxes and other revenue.
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"The appetite for Cavs anything has grown exponentially," Komoroski said.