Where Will Free Agent LeBron James Go?

Cleveland Cavaliers' LeBron James (23) shoots over Atlanta Hawks' Joe Johnson in the second quarter of Game 3 of the NBA Eastern Conference semifinals basketball playoffs in Atlanta, Saturday, May 9, 2009. (AP Photo/John Amis)
AP Photo/John Amis
The Cleveland Cavaliers' LeBron James is about to be the hottest commodity in the world.

James is soon to become a free agent and he'll have to choose between staying in the city that brought him fame to moving on.

"This city, these fans has given me a lot," he said, "For me it's comfortable. I got a lot a lot of memories here so it does have an edge.

To understand the LeBron James effect, just look at this number: $2.7 billion.

That is the estimated economic impact in just one city - Chicago - if James signs with the Bulls.

"This is the biggest free agent in the history of the NBA maybe in sports," Rick Horrow, author of "Beyond the Box Score" told CBS News correspondent Jeff Glor. "He is a walking, talking, free throw shooting, stimulus plan."

Even President Barack Obama, a former Chicago resident, has weighed in.

"You could see Lebron fitting in pretty well," he has said.

But the Bulls are just one of the many teams hoping James will leave the Cleveland Cavaliers, the place he's spent his last seven seasons.

James, became a star in nearby Akron, Ohio, has shown that he can carry a team largely on his back. Maybe even a city.

Here in New York, the long-struggling Knicks have basically written off two entire seasons -- just so they can clear room under the salary cap -- with their eyes firmly set on this summer.

They're giving Madison Square Garden a $500 million upgrade too in hopes it will help them court "the King."

There's increased talk of James going to the Miami Heat. Or the Dallas Mavericks. Or the New Jersey Nets. Or the L.A. Clippers.

But leaving Cleveland might be tough for this 25-year-old.

"This city, these fans, have given me a lot," he told Larry King on CNN. "For me, it's comfortable. I got a lot a lot of memories here, so it does have an edge."

"It would incredibly devastating for Ohio if Lebron left," said Chris Mannix of Sports Illustrated told CBS News correspondent Jeff Glor. "I've heard jokes that Cleveland is willing to move to New York to satisfy LeBron's appeal to go there.

No matter where he goes, he'll have fame… and fortune.

Last year James made close to $43 million. That's $15.8 million in salary and $27.2 million in endorsement deals.

And his new deal will pay him even more.

What it comes down to is this: Where can he win?

"LeBron is determined to be the greatest player of all time," said Mannix. "To cement as one of the greats of all time you have to win championships.

Michael Jordan has six NBA titles. Kobe Bryant has five. James is still searching for his crown.