LeBron James has informed the Cleveland Cavaliers of his intention to return but remains undecided on the terms of his new contract, per a source close to the reigning NBA champions.
In recent years, James has been signing two-year contracts with opt out clauses (after 1) to maximize on the rising salary cap in the league. Next year, the cap is expected to rise to approximately $102 million which would give James the opportunity to sign a more lucrative contract.
LeBron James to opt out again next year?
According to ESPN’s Brian Windhorst, James has several options in front of him. He can either sign a one-year deal that will pay him $27.6 million for next season, giving him the opportunity to opt out again next year. The other option is James can sign a multi-year deal this summer that would fetch him $30.9 million next season, making him the highest-paid player in the NBA.
James, fresh off of his greatest career achievement, has been vacationing in Spain and Hawaii in recent weeks. The three-time Finals MVP is currently traveling with his family and is expected to meet agent Rich Paul sometime later this month to finalize the terms of his new contract.
Besides James, the Cavaliers are yet to sign J.R. Smith and coach Tyronn Lue to fresh contracts. Lue and the team’s front office are yet to agree on a new deal.
“When he was promoted to head coach in January, Lue verbally agreed to a three-year deal but never signed the pact. The sides have been talking about a new deal since June but have yet to come to terms, sources said,” revealed Windhorst in his report.
In June, LeBron James and the Cavaliers became the first team in NBA history to bounce back from a 3-1 deficit in the NBA finals. Since the victory, many analysts have dubbed James as the only player to challenge Michael Jordan for the throne of the greatest of all-time.