In the least surprising development of free agency, LeBron has informed the Cavs that he will re-sign after opting out of his contract, according to ESPN.com’s Chris Broussard:
The fact that James is re-signing is not news. He was always going to; he was just waiting to make it official until they handled their other business first. Dan Gilbert already locked up Kevin Love and Iman Shumpert to long-term deals, and talks with Tristan Thompson remain ongoing. The Cavs also signed Mo Williams to a one-year, $2.5 million deal.
The contract is the same deal he signed last summer: a two-year max with a player option in the second year, which will allow him to take advantage of salary cap jump next summer.