The Cleveland Cavaliers are a National Basketball Association (NBA) franchise and compete as a member of the league’s Eastern Conference Central Division. The team was founded in 1970, and has played at Quicken Loans Arena, known as “The Q”, since 1994. NBA legends such as LeBron James, Brad Daugherty, Nate Thurmond, Walt Frazier and Shaquille O’Neal have played for the Cavs. The Cleveland Cavaliers won its first NBA championship in 2016, after defeating the Golden State Warriors in record breaking fashion. The Cavaliers were the first team in NBA history to come back from a 3-1 deficit in the Finals.
Since James’ return to the Cleveland Cavaliers in 2014, the franchise has seen its value increase at a strong pace. In 2016, the Cleveland Cavaliers were valued in 1.1 billion U.S. dollars, up from 434 million U.S. dollars in 2013, making the Cavs as the 12th most valuable NBA franchise. The revenue of the Cleveland Cavaliers has also risen considerably in the last few years, reaching a new peak in the 2014/15 season – 191 million U.S. dollars. The Cavs ranked 7th in the NBA according to revenue in the 2014/15 season, behind the New York Knicks, the Los Angeles Lakers, the Houston Rockets, the Chicago Bulls, the Brooklyn Nets and the Golden State Warriors.
Despite this growth in revenue and value in the last few years, the average ticket price for Cleveland Cavaliers games has declined over the last few years, reaching the lowest average in the last decade during the 2014/15 season – 43.31 U.S. dollars. For the 2015/16 season, the average ticket prices slightly increased to 48.12 U.S. dollars. In comparison to the average price of other NBA teams, this figure is rather low. For example, fans paid an average of 82.33 U.S. dollars in the 2015/16 season to watch the Chicago Bulls play at home. The regular season home attendance of the Cavs has remained unchanged in 2014/15 and 2015/16. The regular season home attendance of the Cavs was 843,042 during those seasons. This is an average of 20,562 per game, The Q’s full capacity. The overall average attendance in the NBA stood at 17,849 in the same season. As of late 2016, the Cleveland Cavaliers had about 7.1 million Facebook fans and around 1.5 million Twitter followers.
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