LeBron James has finally agreed to re-sign with the Cleveland Cavaliers for $100 million.
The Rio Olympics are in full swing and the basketball world has all eyes on Brazil. Team USA is dominating the rest of the world in everything including basketball but LeBron James isn’t a part of the fun.
Instead, he’s back in Cleveland — or wherever — working on helping the Cleveland Cavaliers repeat as world champions. Until today, he was simply helping the Cavaliers in spirit as he hadn’t yet re-signed with the team. That all changed on Thursday though when he agreed to come back to the Cavs at a price tag of $100 million over the next three years.
This is interesting in that LeBron was expected to keep signing one year deals until he could max out on the TV money and cash in at over $200 million. He still made out pretty well on his latest deal and is still going to make well over $200 million on his max contract, whenever he decides the time is right to make that happen.
No one knows when that’s going to happen now, though. This three-year deal seems to lock him in with Cleveland at the $100 million rate and seems to give Cleveland some mild wiggle room when it comes to making future deal with players.
Here are some more details on the new contract for LeBron:
LeBron James new 3-year, $100 MILLION deal makes him highest paid player in the league for first time at $31M this season
— Brian Windhorst (@WindhorstESPN) August 11, 2016
The Cavaliers were never really in any danger of losing LeBron James to anyone else, but it was a little unnerving to hear that he hadn’t yet signed. That drama is done now, and it’s all about winning another title for Cleveland.