LeBron James Leaving For Miami Heat Drops Cavaliers' Value 26 Percent, Says Forbes

Forbes has released its 2010 NBA valuations, and the macro story is that 17 teams lost value last year, even though the collective league's value was boosted 1 percent. But perhaps the most interesting if inevitable story revolves around the relocation of LeBron James, and the impact The Decision had on the Cleveland Cavaliers and Miami Heat.

As it turns out, it had just the impact you would have expected! Forbes reports that the Heat's value shot up 17 percent to $425 million, while the Cavs' value sunk 26 percent to $355 million. Ouch.

Basically, the values of the franchises flip-flopped. Miami was valuable without LeBron; credit Dwyane Wade, a recent championship and location. Cleveland without LeBron? Sorry, but that's basically the Pacers in terms of franchise placement. The Cavs will likely sink even further in coming years, especially with the top of the draft board missing a media darling like John Wall, Kevin Durant or Derrick Rose. Cleveland could certainly improve through the draft, trades and free agency next season. But lacking star power in a market like Cleveland -- recently burnt by the NBA, distracted with football and baseball -- will be a problem until the next LeBron (yeesh) comes along.

The Knicks, meanwhile, took over the top spot in the league from the Lakers, thanks to a full sell-out of all season tickets and a fat new JPMorgan Chase sponsorship.