LeBron James has informed the Cleveland Cavaliers that he will re-sign on a two-year, $47 million deal that has a player option after the first season, a person with knowledge of the deal confirmed to USA TODAY Sports.
The person spoke on the condition of anonymity because the deal has not yet been signed.
James was always expected to re-sign, but his situation is unique because of the immense influence he now has on the Cavaliers organization.
His agent, Rich Paul of Klutch Sports, also represents restricted free agent forward Tristan Thompson. As negotiations had continued between the Cavs and Thompson on a new deal, the widely-held belief was that James would not agree to re-sign until that deal was done.