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.
Agent Rich Paul notifies Cavs , Lebron will sign on the 1st available signing day of free agency; details of the contract to follow
— Chris Broussard (@Chris_Broussard) July 9, 2015
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
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.
More stories on LeBron James here