According to ESPN, LeBron James has agreed to sign a two-year contract with the Cleveland Cavaliers worth the maximum of $46.9 million, sources told ESPN’s Chris Broussard and Brian Windhorst.
The second year of the contract is a player option, sources said.
The deal follows James’ plan to keep year-to-year flexibility to take advantage of expected increases in the salary cap.
James, who has been on vacation over the last week, didn’t talk to any other teams and always intended to re-sign with the Cavs.
This is the first time since 2006 James will re-sign with a team. The last two times he was a free agent he left for another team, going to Miami in 2010 and Cleveland in 2014.
James met with Kevin Love before free agency started and they discussed plans for the upcoming season. Love signed a five-year, $113 million deal to stay with the team, which officially announced Love’s signing on Thursday.
The Cavs announced Thursday that they also had re-signed guard Iman Shumpert, who said last week that he intended to re-sign with the team. Sources told ESPN.com that deal was for four years and $40 million.