Claiming he decided this morning, LeBron James moments ago announced this evening on ESPN to all the world that he’ll grace the NBA’s Miami Heat with his athletic talents and star power for the next several years – a payday worth multiple millions for King James. The news and drawn out moments leading up to “The Decision,” as ESPN marketed it, has dominated sports media and lit up social networks for weeks. I tend to prefer lofty titles after a significant event has occurred – in this context Michael Jordan’s “The Shot” or “The Shot II” – yet it’s hard to blame ESPN for hyping this announcement given the competition for short attention spans in a crowded media landscape.

LeBron’s move impacts many things including but not limited to big brand endorsements, ticket revenue, ideally his new team’s winning percentage, the city he is leaving behind and also how businesses can promote relatively intangible events like where someone will work next. Even Brett Favre’s annual “will he or won’t he play” drama pales in comparison. Granted, LeBron had extra time this summer when his then Cleveland Cavaliers exited the NBA Playoffs early May 13th.

That time appears to have been used wisely by LeBron’s camp, as team after team made their best attempts to woo him while the media that matter most to James and the NBA pretty much followed his every move; a luxury by PR standards and understandable based on the performances James turns in.

Social media is likewise becoming a piece of James’ communication strategy. He signed up for Twitter just this week and quickly amassed 325,000 followers as noted by USA Today’s Jon Swartz and others. He hasn’t used it much but promised responses after – or perhaps during – tonight’s event. It will be interesting to see if social networking becomes a significant component of LeBron’s marketing.

What can we glean from the hoopla as marketers and communicators?

Developing charisma and leveraging your talent draws opportunities. It’s analogous to content marketing too – create compelling content and business will come to you. Consider this on your own scale. What do you have that can attract your target audience? Maybe it’s a differentiating product feature, but more likely there’s a personality on your team ideal for conveying the story you want to tell. Identify that combo and it’s nothing but net!

The lure of exclusivity remains a viable option in a wired world. ESPN was a logical choice for the made-for-TV special and ratings should be rewarding. More specifically, keeping mums with your chosen media about your timed news helps generate powerful buzz. Dallas Mavericks owner Mark Cuban blogged earlier today that he couldn’t spot a leak when offering his witty PR-focused observations, so he ventured a guess. Anticipation begets drama begets coverage.

It’s always about relationships. And it’s especially about establishing them before you need them. LeBron’s talent and celebrity naturally garners media attention, yet this applies to him as well. Seven seasons have nurtured many marquee media relationships for LeBron and the NBA. Apply these to a seemingly common event as who an athlete will play for next and we have a nice example of relationship leveraging, blog and social network momentum and a dash of crowdsourcing with all the predictions that lead up to LeBron’s selection.

If nothing else, it was a polarizing marketing moment for Brand LeBron and the NBA.