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Wednesday, February 23, 2011

Man Buys Cavs Tickets With "LeBron Guarantee" From Broker, Broker Refuses To Issue Refund

Posted By on Wed, Feb 23, 2011 at 2:39 PM

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Cavs season ticket holders were forced to make a decision long before LeBron's: renew or not to renew. It was a gamble, one that everyone lost once James was in Miami and they were in the lower bowl watching the worst team in the NBA because the resale market for a Tuesday Cavs vs. Timberwolves game just wasn't what it once was.

One group, however, hoped to secure tickets for the 2011 season and thought they had a full-proof plan. Purchase the tickets through a ticket broker but include a "LeBron guarantee" in the ticket agreement, one that would make the broker issue a full refund if LeBron didn't resign with the Cavaliers.

That's what M&M Management and Consulting, Inc. did, forking over $9,290 to Executive Tickets for an 11-game package. However, when time came to hand the money back in July once James was beach-bound, Executive Tickets balked. Incidentally, the broker's phone is now disconnected and their website down, probably good evidence that Executive is out of business and simply without the cash to fork over, which isn't entirely surprising — plenty of ticket agencies have been in trouble for reneging on refunds over the years.

The company is now being sued for the almost $10,000 in Cuyahoga County.

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