LeBron informs Cavs he will return to team

By JOE VARDON

cleveland.com

CLEVELAND

LeBron James told the Cavs what he already told Cleveland.com nearly a month ago — he’ll re-sign and defend the team’s 2016 NBA title.

But when James re-ups with Cleveland, and what the contract looks like, still remains a mystery.

Two sources confirmed to Cleveland.com that James has told the Cavs he would re-sign with them at some point this offseason. ESPN’s Brian Windhorst first reported the conversation. The sources said the team has known for some time – having heard from James – that he would indeed return for the 2016-17 season.

James told Cleveland.com on June 22, the morning of the Cavs championship parade in downtown Cleveland, he intended to return. But multiple sources say there is no timetable for James to put his name on what would be his third contract with the organization since returning from Miami in 2014.

It’s unclear why James is taking such a long time this summer, though one could surmise he’s weighing his long-term earning potential against the possibility of a new collective bargaining agreement and potential lockout next summer (more on that in a minute).

Last year, James notified the Cavs on the first day free agents could sign with teams that he was returning, and signed his contract shortly thereafter. In 2015, at the same time in July, James was set to premier his movie Trainwreck in Akron, and the optics of James unsigned during the red-carpet event would not have been stellar.

This year, James may not appear publicly in Ohio again until mid-August, when he’s expected to host his annual summer event for the LeBron James Family Foundation. So stay tuned.

James declined to exercise the $24 million player’s option in his previous contract for next season, which made him a free agent on July 1. Agent Rich Paul has told other teams calling about James’ availability that his star client was returning to Cleveland.

James could sign a one-year deal with a player’s option worth $27.5 million for next season — a $3.5 million raise — or do a four-year deal that would pay him nearly $31 million next year and about $137 million over the life of the contract. He’d be the highest-paid player in the league next season, but wouldn’t own the largest contact in NBA history.

A quirk in the CBA as it stands could prevent LeBron James from signing a five-year, $200 million deal next summer, which could impact the decision he makes on a contract now.

That still belongs to Mike Conley Jr., who signed a five-year, $153 million deal with Memphis this month.

Signing a short-term deal again could set James up for an even larger contract next summer — four years and $157 million. But the potential for a redoing of the league’s collective bargaining agreement with the players’ union could boost that total.

There is also risk involved when leaving guaranteed money on the table — especially in the event of a work stoppage, which could happen in the NBA next summer. And, depending on what happens to the NBA’s salary cap next year — it’s already fallen from a projected $107 million to $102 million, the potential for James to earn more by seeking a long-term deal next summer could be negligible.

James has vacationed in Spain and Hawaii and is also spending some time in his $21 million mansion in Los Angeles. He and the Cavs were huge winners at the ESPYS in L.A. last week.