LeBron James, Cavaliers Strike Two-Year Contract; Bigger Deal Likely Later

LebronLeBron James and the Cleveland Cavaliers agreed on a contract Saturday, 24 hours after all the hubbub.

James signed a two-year, $42.1 million deal, sources told ESPN, with the object of reaching another agreement before the 2016-17 season, when the NBA will have a new television contract in place. The TV deal will give the league more revenue, which in turn will increase the value of maximum contracts teams can give players.

James’ contract includes a player option after the 2014-15 season, but ESPN’s sources said he’s committed to the Cavaliers long term. James also said in his statement Friday that he wants to finish his career in Cleveland.

The perennial All-Star forward has earned a maximum salary in just three out of the 11 years he has played in the NBA, but that likely will change in a few seasons. The NBA’s salary cap is projected to rise to $80 million before the 2016-17 season begins, ESPN reported.

Photo via Twitter/SportsCenter

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