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CLEVELAND- LeBron James will sign a two-year deal with the Cleveland Cavaliers on the first available signing day for free agency, ESPN reported.

The agreement is worth $46.9 million with the player option for the second year, according to ESPN’s Chris Broussard.

James became a free agent on July 1, but was expected to re-sign with the Cavs.

Kevin Love also officially signed his new contract with Cleveland on Thursday.

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