Cleveland Cavaliers forward LeBron James attended his annual LeBron James Family Foundation event in Akron, Ohio on Thursday where he made a few important announcements. The First was about the kids in his I Promise program, who will get full college scholarships if they complete it with good test scores, attendance, and community service. The second was about the Cavaliers' most important free agent, Tristan Thompson. 

LeBron James said of Tristan Thompson, "Our No. 1 objective right now is to sign Thompson. He's a huge part of our team. Short term and long term he makes our team more dangerous​. Things need to be worked out from his side and the Cavs but we need him back. He's an important resource. The front office has done a great job. The next step is to get Tristan done."

Talks between Thompson and the Cavs became testy this week when Thompson's agent Rich Paul said Thompson would not play for the Cleveland Cavaliers after this upcoming season if the team forces him to accept the one-year qualifying offer of $6.8 million. Talks of a new contract for Thompson have stalled since July. Thompson has been looking for a five-year deal worth $94 million, but the Cavaliers' offers have been for less. Rich Paul attended the event Thursday for James' foundation. Paul declined to comment on the progress of the Tristan Thompson contract talks according to ESPN, though. 

The Cavs have re-signed Kevin Love, Iman Shumpert, and James Jones this offseason to contracts totaling more than $200 million in guranteed money. The Cavaliers also signed veteran free agents Mo Williams and Richard Jefferson for two years, $4 million and the veteran's minimum, respectively.

Because the Cavaliers are already $4 million over the luxury-tax line, Brian Windhorst of ESPN estimates the addition of a maximum contract for Tristan Thompson might cost them around $35 million in luxury tax alone.

Those numbers that Thompson wants is higher than James Harden's five-year, $78 million contract and is equal to Blake Griffin and Kyrie Irving's five-year $94 million contract. James Harden and Blake Griffin have been in the top three in MVP voting and have made the All-Star team multiple times. Tristan Thompson, in last year's regular season, averaged 8.5 points on 54.7 percent from the field, to go with 8.0 rebounds in 26.8 minutes per game while starting in only 15 of the 82 games he played in.