The biggest piece in free agency has finally re-signed with his respective team. After opting out of the final year of his contract prior to the start of free agency, LeBron James has re-signed a two-year, $47 million deal with the Cleveland Cavaliers, according to ESPN. James’ contract includes a player option for the second year. He will get paid $22.97 million the first year and $24 million the second year.
The option on James’ contract was expected once again, as he is going to most likely opt out to earn more money the following summer when the new TV deals kick in and maximum contracts rise. He could potentially make more than $30 million a year with a new deal next offseason.
James returned to the Cavaliers last year after spending four seasons with the Miami Heat, winning two championship rings. He announced that he is “coming home” to Cleveland to fulfill promises.
James, 30, almost fulfilled that promise this past season when he singlehandedly led his team to the NBA Finals but lost in six games to the Golden State Warriors. With Kevin Love and Kyrie Irving injured throughout the playoffs, James averaged 30.1 points, 11.3 rebounds, and 8.5 assists, but it was not enough since he did not receive adequate support.
The Cavaliers have been determined to bring back their entire roster from last season. They already agreed to sign Love to a five-year, $110 million deal and Iman Shumpert to a four-year, $40 million deal. They are still negotiating with Tristan Thompson who was close to accepting a five-year, $80 million offer but is reportedly asking for more. Cleveland also signed Mo Williams to a two-year deal, $4.3 million deal, bringing him back and reuniting him with James.
Once they could reach an agreement with Thompson, the Cavaliers would also like to retain J.R. Smith and Matthew Dellavedova and trade Brendan Haywood’s $10.5 million unguaranteed contract.
With the core group expected to return, LeBron James will look to lead his team to another long playoffs run this upcoming season.