LeBron James will re-sign with the Cleveland Cavaliers, but only for one year. With no publicity, no DeAndre Jordan drama and no “The Decision,” the greatest active basketball player on the planet signed a one-year contract to remain with the Cavs on Thursday.
LeBron James had agreed to re-sign with the Cavs for one-year at $23 million plus a player option, sources told ESPN
— Brian Windhorst (@WindhorstESPN) July 9, 2015
James will be paid $23 million next season, and holds a player option for $24 million for the year after. The one year deal allows the best player in the game to cash in on the salary cap explosion that will happen next summer. The NBA’s 9-year, $24 billion TV deal expires and the new deal will open the floodgates on NBA salaries.
Agent Rich Paul tells Cavs today LeBron will sign 2 yr deal with player option for 2nd year. $22.97 million 1st season, $24 mill 2nd year
— Chris Broussard (@Chris_Broussard) July 9, 2015
The four-time NBA MVP hit free agency on July 1 after opting out of the final year of the two-year contract that he signed with the Cavaliers last summer. James held out until now to re-up with the Cavs is that he wanted to make sure management would do everything in their power to bring back his supporting cast and improve the team to make another championship run.
The Cavs worked quickly to re-sign their free agents Kevin Love with a 5-year, $113 million max contract and Iman Shumpert with a 4-year, $40 million contract. Plus Cleveland also agreed to a new deal with former Cavs player Mo Williams.
Many thought LeBron would hold out until Tristan Thompson re-signed. The pair share the same agent, Rich Paul, but the Cavaliers are still negotiating a deal, but there are rumors that they are close to a 5-year, $80 million deal.
The team will have their injured stars Kyrie Irving and Love back next year. Both of which missed the Finals, yet LeBron singlehandedly almost won a NBA title by himself averaged 30 points, 11 rebounds and nearly 9 assists per game in the playoffs.
The year-by-year contracts by the 30-year-old James gives him leverage and puts pressure on Dan Gilbert and the Cavaliers to provide a championship-level supporting cast at whatever cost, even paying a ridiculous luxury tax.
With another year together and a healthy team, they are instantly one of the favorites to win it all next season.