4:40pm: The third year is a player option, Chris Broussard of ESPN.com relays (on Twitter).
4:26pm: The last major free agent has finally come off the board, with the Cavaliers and LeBron James reaching an agreement on a new deal, Brian Windhorst of ESPN.com reports (via Twitter). According to the scribe it will be a three-year, $100MM arrangement. There is no indication yet if the deal includes any options, be it player or team.
The agreement will see James become the highest paid player in the league for the first time in his career, with the veteran set to earn approximately $31MM this coming season, Windhorst notes. The deal will pay him in excess of $33MM in 2017/18, which would be the highest single-season contract in league history, per the ESPN scribe.
There was little intrigue this offseason regarding James making his return to Cleveland, despite the superstar remaining unsigned until now. With the Cavs securing the NBA title this past season, it was merely a matter of when James would sign, not if.
James appeared in 76 games this past campaign, averaging 25.3 points, 7.4 rebounds and 6.8 assists in 35.6 minutes per outing while shooting .520/.309/.731 from the field. The 31-year-old was equally impressive in the postseason, logging 26.3 PPG, 9.5 RPG and 7.6 APG in 21 contests.
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