This has got to be one of the most vitriolic verbal beat-downs in sports history. Dan Gilbert, the majority owner of the Cleveland Cavaliers has gone completely off -- and in a very public way -- on LeBron James now that the NBA superstar has decided to leave his hometown and head for sunnier prospects with the Miami Heat. In an open letter to Cavalier fans, Gilbert eviscerates James, calling him "narcissistic," "self-promotional," heartless" and "callous." And that was the relatively tame part of Gilbert's missive. Read the full letter here.

What was even more over the top was that Gilbert flat-out promised his city's fans a championship, and assured those long-suffering fans that Cleveland's players will get the thrill of wearing championship rings before James ever does.

"I PERSONALLY GUARANTEE THAT THE CLEVELAND CAVALIERS WILL WIN AN NBA CHAMPIONSHIP BEFORE THE SELF-TITLED FORMER 'KING' WINS ONE"

You can take it to the bank," Gilbert wrote. (Those all-caps were his too, which shows you how heated he was). If all that wasn't enough, Gilbert essentially warned James to be ready for payback, saying "karma" would do James in (and the Heat) for James' "cowardly betrayal."

Ouch!
While I understand the tremendous disappointment the Cavaliers and their fans must be experiencing, some perspective is truly in order. First of all, despite the thrill of the game (for players and spectators alike), basketball is big business first and foremost. It's about dollars; lots of them. Dollars reaped from ticket sales, merchandising, advertising, endorsements, not to mention lucrative multimillion-dollar contracts for both players and coaches. The Cavaliers no doubt felt "betrayed" because of the time and energy they've invested in James. I get that.


But you know what? James has put in his fair share of hard work there, too. It's not like he didn't give it seven years of serious gut-wrenching effort. He really tried to get a championship in Cleveland -- for Cleveland. So did his teammates.

Unfortunately, they simply couldn't get it done. Now that James is leaving, many in Ohio are calling him a traitor -- and worse. If the shoe was on the other foot -- as is most often the case -- would there be this much animosity and anger directed at the team management if it had decided to trade LeBron, for any reason, as opposed to him walking away on his own terms? I think not. Players get traded all the time in the NBA. James simply decided to control his own fate, for two reasons: money and his legacy.

James often said "it wasn't about the money" in terms of his decision. I'm sorry but I just don't buy that. James is a shrewd player with sharp advisers. At first glance, it's easy to believe that money wasn't a consideration. After all, Cleveland reportedly offered him around $128 million, while the Heat is supposedly ponying up $99 million or so. But James has to also know that the contract itself is just a starting point for making big bucks. The real money comes with endorsements -- and championships. Getting that NBA championship ring is a goal that will not only net James more dollars in the long run, it will also seal his place in history as one of the greatest NBA players ever. Assuming, of course, he stays healthy and does, in fact, win.

That's where the legacy part comes in. All successful athletes have to think about leaving at some point. James may just be doing it earlier. He's thinking about what he wants his legacy -- for all of eternity -- to look like. Did he want it to say: LeBron James was an outstanding player with the Cleveland Cavaliers and a "loyal" player who never won a ring? Or LeBron James, an NBA champion with the Miami Heat? That's pretty much what it came down to: legacy -- and money. And speaking of money, many New York fans are also lamenting what could have been if James had decided to come to the Big Apple. Despite a strong offer from New York, I'm sure money played a role in that decision, too. After all, as this WalletPop.com article points out, James probably saved around $25 million in taxes alone by going to Florida instead of the Empire State.

So let's not be too hard on James. He made a personal and business decision. That's his right. He shouldn't be demonized for it.

What do you think? What is the right decision or the wrong one? And what about Gilbert? Was he justified in going off on James? And is Gilbert correct that bad "karma" will follow James until he does "right" by Cleveland? Do you think King James made the right business move -- even though it means a net salary loss?

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Lynnette Khalfani-Cox, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has been featured in the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence and Redbook to Black Enterprise and Smart Money. Check out her New York Times best seller 'Zero Debt: The Ultimate Guide to Financial Freedom.'