In constructing a properly run basketball franchise that has the best shot at competing year in and year out, you're precisely right. However, let's not forget that sports is a BUSINESS above all others. In business, the objective is to make money. Something Gilbert knows a lot about. And it is no secret that without LeBron, this franchise and city is worth a lot less.
Since James entered the NBA, the value of the Cavs' franchise jumped 85 percent to $477 million last year — the largest percentage increase in the league, according to Forbes.com. The team is currently ranked as the fifth-most valuable in the NBA.
Also according to Forbes on the value lost if LeBron were to leave:
That's an eye-popping $47.7 million!
So yeah, in the eyes of a business man, Gilbert will do anything and everything to keep this valuable asset, including bending over backwards for LeBron James.