The Cleveland Cavaliers made it official Friday, re-signing star forward LeBron James.
Terms of the contracts were not released by the team, but the maximum two-year deal is worth $46.9 million. The second year of the contract is a player option, according to reports. James opted out of a two-year deal on June 29 to reach free agency.
Based on a new revenue from television and digital rights contracts, James could receive a five-year deal worth up to $200 million in 2016-17 because the Cavaliers hold his Larry Bird Rights, the clause in the current collective bargaining agreement that entices players to re-sign with their current team.
“LeBron’s re-signing today is a reflection and continuation of his strong, personal commitment to help deliver championships to Northeast Ohio and Cavs fans everywhere,” general manager David Griffin said in a statement. “We share this deep level of commitment with him. His impact upon this team, his community and the game are impossible to overstate and we look forward to continuing on our mission together.”
James returned to his home state in July 2014, leaving the Miami Heat four years — and two NBA championships — after bolting Cleveland in an excruciating public departure.
The Cavaliers lost to the Golden State Warriors 105-97 in Game 6 of the NBA Finals without All-Stars Kyrie Irving and Kevin Love due to injuries, and James was “not happy with the way it closed out.”
James, a four-time MVP and 11-time NBA All-Star, appeared in 69 regular-season games (all starts) for the Cavs in 2014-15 with averages of 25.3 points (third in NBA) on .488 shooting from the field, 6.0 rebounds, 7.4 assists (seventh in NBA) and 1.6 steals in 36.1 minutes. It was James’ 11th consecutive season averaging at least 25 points per game, which is tied with Karl Malone (1987-88 to 1997-98) and Jerry West (1961-62 to 1971-72) for the most consecutive seasons averaging at least 25 points in NBA history (minimum 30 games).
The Akron, Ohio, native remains the franchise’s leader in points scored (16,994), scoring average (27.5), field goals made (6,039), 3-pointers made (891), free throws made (4,025), assists (4,321), steals (1,064) and minutes played (24,601). Over his 12-year NBA career, James has appeared in 911 regular-season games (910 starts) with averages of 27.3 points, 7.1 rebounds, 6.9 assists, 1.7 steals and 39.3 minutes, while shooting .496 from the floor, .342 from 3-point range and .745 from the foul line.
For his postseason career, James has appeared in 178 playoff contests (all starts) with averages of 28.2 points, 8.8 rebounds, 6.7 assists and 1.7 steals in 42.5 minutes per game.
James started in all 20 games during the Cavs’ NBA Finals run last season, recording an NBA-high 14 double-doubles (three triple-doubles) and averaging 30.1 points, 11.3 rebounds, 8.5 assists, 1.7 steals and 1.1 blocks in 42.2 minutes per game. He joined Oscar Robertson as the only players in league playoff history to average at least 30.0 points, 11.0 rebounds and 8.0 assists in a single postseason.
James addressed Cavaliers fans after the season ended without a title.
“Hopefully I was an inspiration, being back to you guys for this first year,” James said in the video posted for Bleacher Report. “Hopefully I can continue that in the near future. And I just thank you guys — I thank the fans, I thank everybody for the support that y’all gave us all year, the support that you gave me by welcoming me back.
“And hopefully I made you guys proud in Year 1. Like I said, I’m not satisfied, I’m not happy with the way things turned out. I’m bummed about it for sure. But hopefully I can put our team in position once again to try to compete for a championship next year and year-in and year-out. That’s my goal, and my inspiration hasn’t changed. So I appreciate everything. I thank you guys, I love you guys and I’ll see y’all soon.”