(My Sportsbook) - Every time LeBron James wears a New York Yankees cap, the basketball fans in Gotham smile.

I guess the reasoning is simple and goes something like this...Since the Cleveland Cavaliers' superstar loves baseball's most storied franchise, he must relish the thought of playing in the nation's No. 1 media market.

Knicks fans ask: "Who wouldn't want to play in the world's most famous arena, Madison Square Garden?"

And Nets fans counter with, "Who wouldn't want to play on a team partially owned by their close friend, hip-hop mogul Jay Z?"

Both teams are fueling their fans' fantasies by opening up significant cap space. In fact, the Nets and Knicks have been doing everything possible to clear enough salary cap space by 2010 to lure James.

The Nets jettisoned Jason Kidd last season and followed that by waving goodbye to Richard Jefferson in the offseason. Meanwhile, Knicks president Donnie Walsh made his first big move Friday, agreeing to send guard Jamal Crawford to the Golden State Warriors for the disgruntled Al Harrington.

That is just the first of what could be a number of moves for the Knicks, who are also working feverishly on sending high-priced forward Zach Randolph to either Dallas or the Los Angles Clippers.

Of course, there are problems with either scenario.

The Nets' move to Brooklyn has been slowed by delays, the faltering economy and legal challenges to Atlantic Yards, the proposed development that would include the team's new arena.

In fact, the latest piece of litigation has pushed a possible groundbreaking back to next spring at the earliest, with a projected opening in 2011, a year after James would be scheduled to arrive with the Nets. North Jersey is close to New York in proximity, but not in stature.

On the other hand, the Knicks, while improved under Mike D'Antoni, still sport a pair of expensive anchors to the franchise, enigmatic guard Stephon Marbury and out-of-shape center Eddy Curry.

Does LeBron, who has been knocked for not leading the Cavaliers to a championship, really want to go to a far less talented team that spent two years gutting its roster to acquire him?

James will certainly opt out of the final year of his contract in Cleveland to test the market but, barring a sign-and-trade agreement, the Cavaliers will be able to offer James a longer and more lucrative contract than any other team.

Meanwhile, for what it's worth, James claims he loves playing for the Cavs.

"I love being here, I love playing in front of these fans," James, an Akron native, told The Cleveland Plain Dealer before the season. "My family's here. I grew up 30 miles away from here. I never gave any indication I did not like playing for the Cleveland Cavaliers."

By their actions, the Nets and Knicks feel James is just posturing and winking at both of them.

Of course, it's always nice to have a backup plan, and James will likely be joined in the 2010 free agent class by Toronto's Chris Bosh, Miami's Dwyane Wade and Phoenix's Amare Stoudemire.

With that kind of security blanket, the Knicks and Nets have gone all in. A gamble that entails making a two-year run at LeBron.