Ok, from a Cleveland standpoint, this decision is huge (obviously). Especially considering the ability to lure a future free-agent super star to this team. Think about it...
If LeBron leaves, he'll be leaving $30 million on the table and leaving his hometown. And it's not like the Cavs are a terrible team. This team has won 127 games the last two years! The team and owner have done EVERYTHING in their power to get LeBron to stay here. So, this decision is entirely on him. And by his example, it may influence how future stars think of our city/team.
If LeBron does leave, the Cavs will forever be known as the team who can't even keep their own home-grown star. If "one of our own" doesn't want to be here, why would anyone else?
This decision will have a very dramatic effect one way or the other.
This is kinda what I've been trying to say for a few days now.