Cavs News: LeBron James to Re-Sign Two-Year Deal with Cavs Worth $46.97M

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CLEVELAND, OH - JUNE 16: LeBron James #23 of the Cleveland Cavaliers reacts in the first quarter against the Golden State Warriors during Game Six of the 2015 NBA Finals at Quicken Loans Arena on June 16, 2015 in Cleveland, Ohio. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, user is consenting to the terms and conditions of Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)

It’s the news Cleveland Cavaliers fans all over have been waiting for: LeBron James has reaffirmed his commitment to the city of Cleveland for two more years.

Chris Broussard of has reported that James will earn $22.97 million in the first season of his contract and $24 million in the second year, which includes a player option.

James, who opted out of his contract earlier in the offseason, was expected to re-sign so he could earn an extra $1.4 million.

Although the Cavs have yet to ink a deal with center Tristan Thompson, Kevin Love and Iman Shumpert have both inked long-term deals this offseason, which has evidently cemented James’ return.

James averaged 25.3 points, 7.4 assists, and 6.0 rebounds last season and is widely expected to finish his career in a Cavalier uniform.

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