Disastrous if you believe what you hear coming out of Cleveland. The Cavaliers were humiliated 120-88 yesterday by the Boston Celtics in Game Five of the NBA's Eastern Conference Semi-finals. Not only was it the worst home playoff defeat in team history, it might be remembered forever as the loss that cost the team its greatest-ever player.

That's because there's growing sentiment among fans and media members that that LeBron "King" James, the NBA's biggest superstar, has played his last home game in a Cavaliers' uniform.

James is the NBA's highest-profile free agent, and once the season ends, he can re-sign with the Cavs or move to any other team, provided it has room under the salary cap for the massive pay packet he'll command. A month or so ago, with the top-seeded Cavaliers expected to make it to the NBA Finals, many figured LeBron's decision would be dependent on whether he won or lost on basketball's biggest stage.

After yesterday's blowout, Reckoning Day has come a little earlier. In fact, it could all come down to Friday morning (AEST) when Cleveland heads to Boston for a must-win Game Six. If LeBron and the Cavs can stay alive and force a Game Seven, Cleveland fans will still hold out hope. If the Celtics close it out, most believe "The King" is headed for greener pastures.

To understand how serious this is for the city of Cleveland, you have to realise what the place is like. I could use a Gary Ablett Jr analogy, but Geelong has won two of the last three Grand Finals. None of Cleveland's three major sports franchises has won a title since the NFL's Browns captured a championship in 1964.

Although the city does have the Rock and Roll Hall of Fame, Cleveland has long been a comedian's favourite punchline, an unglamourous Midwestern city whose river actually caught fire once.

So when James rolled into town in 2003 as a no.1 draft pick, you could imagine the excitement. Here was a local kid, from Akron, just down the road, who won Rookie of the Year, became a two-time MVP, and elevated the Cavaliers to elite status in the NBA. He took them to the Finals in 2007, where they lost to the Spurs.

LeBron signed a contract extension in 2006, and while never publicly saying he'd be a Cavalier for life, always hinted that winning would continue to keep him happy in Cleveland. After yesterday's stinkeroo - and LeBron played as poorly as any of his teammates - I'm not sure he sees the value in sticking around.

Maybe he thinks the Cavaliers will never get over the hump. Maybe it's the millions on offer elsewhere, tempting for a guy who cozies up to Warren Buffett and wants to be a billionaire. Or maybe it's the chance to be big in New York City. While a few teams - the New Jersey Nets, the Chicago Bulls, the Miami Heat - have or could have space under the cap, it's the New York Knicks who have the best shot at signing LeBron.

Personally, I think James has three realistic options:

1. New York: It makes sense for so many reasons. In fact, you can almost here LeBron singing "If I can make it there, I'll make it anywhere." It's the Big Apple, the no.1 TV market in the United States. The chance to be "The Man" in New York and make the Knicks relevant again has got to be appealing. Furthermore, the Knicks have enough room under the cap to sign another superstar in addition to LeBron, whether that's Chris Bosh or Amare'e Stoudemire.

2. Cleveland: LeBron has stated that he's very happy in Cleveland and enjoys living in his home state. There have been issues with his on-court (to use the old Jordan term) "supporting cast," but in the Game Five loss, LeBron had no one to blame but himself. If James doesn't go to the Knicks, I think he'll stay in Cleveland.

3. New Jersey: The Nets, who are slated to move into a brand-new arena in Brooklyn in 2012, have a shot at LeBron because of his friendship with part-owner Jay-Z. New majority owner Mikhail Prokhorov is one of those Russian billionaires, and he'd love to have someone like LeBron on board. The trouble is, whether it's New Jersey or Brooklyn, it still ain't Manhattan. And if you're in New York, you wanna be in New York.

LeBron officially becomes a free agent on July 1 and there's still a lot that can happen before then. If I were a betting man, I'd take my clue from baseball. Why? LeBron is a big Yankees fan.