LeBron James Signs Three-Year, $100M Deal With Cavs

LeBron James

As expected, LeBron James has re-signed with the Cleveland Cavaliers... but this time, on a landmark three-year, $100 million contract.

His salary in the first year of the deal will be $31 million, which will make James the highest-paid player in the NBA for the first time in his career. Then, his salary for the 2017-18 season will top $33 million, making him the highest-paid player in a single season in league history, topping the $33 million Michael Jordan earned with the Chicago Bulls in the 1997-98 season.

According to ESPN, James also has a player option for the third year.

In the past two years, James has accepted one-year contracts, each with a player option. But, this time, he opted for a longer deal.

He announced the new deal on Uninterrupted on Thursday (Aug. 11). "I just want to let y'all know I'm re-signing back with the Cleveland Cavaliers, my hometown team," James said. "I can't be more excited than this opportunity once again, man, to defend our crown, defend our title. We all know last year as a magical, inspiring -- all the words you can come up with -- it was an unbelievable season. I just can't wait to get the group back together -- the team, the franchise, more importantly, get everybody together, the fans. Without you guys, without your passion and commitment, we wouldn't have been able to do what we did this past season. I'm ecstatic. I can't wait to see my guys. I can't wait to get back out there in the wine and gold and just get the band back together. Lastly, let's get J.R. (Smith) done. It's that time."

Smith is still a free agent.