From a taxes standpoint, it makes sense to go to Miami since there’s no state income tax — only Orlando or the three Texas teams can compete there. At his income level, that adds up fast.
From a marketing standpoint, he’s already an international figure, so any team would have been fine from a national or international perspective.
So financially, it comes down to whether the local marketing opportunities in NYC or LA or Chicago could bring in enough revenue to overcome the impact of local taxes on his entire income. Probably not.
Of course, he’s making this decision based on the easiest place to win (and perhaps the hotness of the babes in Miami).
Wow. By choosing Miami over NYC, he saves $12.34 million over a five year $96 million contract. And that doesn’t include the savings on the rest of his income. He saves $5.69 million over staying in Cleveland and $10.32 million in avoiding the NJ Nets (from NY Post). No wonder rich people are abandoning NYC.