LeBron James has ended speculation about his future after agreeing a two-year deal that will see him remain with the Cleveland Cavaliers next season, multiple reports said on Thursday.
The NBA superstar has reportedly agreed a contract worth nearly US$50 million after opting out of a two-year deal on June 29 to reach free agency.
The Cleveland Plain Dealer news portal said on its Web site that the deal comprised of a US$23 million contract for next season followed by a US$24.7 million option for the 2016-2017 season.
James’ opt-out decision was widely interpreted as a gambit designed to ensure the Cavaliers sign more top talent for next season after losing this year’s NBA finals.
Earlier this week, point guard Mo Williams said he had agreed to a deal with the Cavs that would see him reunite with James. Williams played with James for two seasons from 2008 to 2010. The Cavs have also handed lucrative contracts to forward Kevin Love and point guard Kyrie Irving, further enticing James to stay.
Cleveland are also close to agreeing a new deal with restricted free agent Tristan Thompson, who shares an agent with James, according to reports.
The Cleveland Plain Dealer said Cavaliers owner Dan Gilbert had splurged about US$330 million on contracts to surround James with a team capable of challenging for the title.
James averaged 25.3 points and six rebounds per game during the regular season ended this year, but sharply improved his numbers during the Cavs’ playoffs run.
He averaged 30.1 points per game in the playoffs, which ultimately ended with a 4-2 loss in the Finals to Golden State Warriors.
San Antonio Spurs veteran Tim Duncan agreed to a paycut before re-signing with the team on Thursday at US$5 million for one year.
The 39-year-old Duncan’s contract also includes and option for the 2016-2017 season. Duncan has played his entire career with the Spurs, who made him the first overall pick in the 1997 entry draft.
Elsewhere, the Chicago Bulls announced they had re-signed their leading scorer Jimmy Butler for a reported five years and US$93 million.
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