*Almost a year to the day of his big return home from the Miami Heat, LeBron James revealed that he will remain with the Cleveland Cavaliers.
The NBA star agreed to terms of a one-year, $23 million contract that also includes a player option for 2016-17, two people familiar with the negotiations told the Associated Press on Thursday. They spoke on condition of anonymity because James has not yet signed the contract.
His agreement with the Cavs gives him future flexibility and the ability to make more money next summer when the league’s new TV deal kicks in. The $24 billion package is expected to escalate the salary cap by millions.
James, 30, led the Cavs to the NBA Finals in his first season back. Cleveland lost in six games to Golden State.
Off the court, James is hosting a VIP screening in Akron on Friday, where he’ll walk the red carpet with fellow stars of “Trainwreck,” Amy Schumer’s movie he filmed last summer shortly after announcing he was returning to the Cavs.
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