LeBron to sign five-year, $80 million extension

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http://sports.espn.go.com/nba/news/story?id=2513416

CLEVELAND -- LeBron James won't be leaving home anytime soon.
LeBron James

Small Forward
Cleveland Cavaliers

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Cleveland's All-Star forward accepted a five-year contract extension worth about $80 million from the Cavaliers on Saturday, a huge relief for the rising team and its fretting fans who worried he might be planning an escape.
James, who in three seasons as a pro has turned the Cavaliers from doormats into a playoff team, will sign the deal once the league's moratorium ends Wednesday, said his agent Leon Rose.
"I am very excited and happy to be re-signing with the Cavaliers. Staying in Cleveland ... provides me with the unique opportunity to continue to play in front of my family, friends and fans," James said in a statement released by his publicist. "I look forward to working toward bringing a championship to our great fans and the city of Cleveland."

 

[LPKingsFan]

Hmm... so much for all the drama. I could've sworn he was going to hold out, then bolt for NJ/Brooklyn in 2008.

 

[Bricklayer]

You can hear the sigh from Cleveland all the way to the coast.

None the less, with it taking so long you have to believe that there was actually a waver there. There was nothing to negotiate.

 

[jacobdrj]

Come on Brick, wy WOULDN'T LeBron want to sign in CLE for the next 6 years?

 

[PejaFanatic]

Wow, good for Lebron.

 

[PT Cruiser 9ROC]

A kind move on LBJ's part to avoid all the commotion and drama heading into the season, but I think the smart move would've been to hold out for the year and forcing the Cavs into a situation where there would be immense pressure to put together a contender immediately. The team as it is isn't going to contend, in my opinion. It's a good team, but he definitely needs more help.

 

[VF21]

A kind move on LBJ's part to avoid all the commotion and drama heading into the season, but I think the smart move would've been to hold out for the year and forcing the Cavs into a situation where there would be immense pressure to put together a contender immediately. The team as it is isn't going to contend, in my opinion. It's a good team, but he definitely needs more help.

I have a problem with that kind of scenario.

Don't you think the team wants to get better? To be more competitive? I'm glad Lebron James didn't hold out. Having him secured may actually make it easier to draw free agents. I guess I'd never make a good agent. I would want my client to be honest and above-board in his dealings with the team. After all, they are really after the same things.

 

[Amanjoy]

You know, Lebron really shows a lot of composure and class for someone that's only 21 years old. I'm 22, and I know how especially people my age can get distracted more than others by the opportuniy to make more money no matter how much we've made before. Lebron is really sending a message to the rest of the NBA and sports in general about the importance of loyalty and gratefulness for what they've received. He could've been a spoiled brat and made Cleveland beg and plead to keep him and come crawling on hands and knees. He could've been like a lot of professional athletes and made a fuss in the media and puffed himself because he could very easily get away with it. But...he didn't. I think he realizes that Cleveland has given him the opportunity to play in the NBA and has bent over backwards for him already. He's grateful for all they've given him, and he wants to earn what he's received by bringing them a championship. He settled the issue before anyone could even say anything or make a stupid rumor somewhat believeable to the ears of the public and the media. Sports could use a lot more guys like Lebron James.

The guy definitely acts more mature than people twice his age.

 

[Packt]

Well, he could've agreed to the deal from the get go like the rest of the stars in his draft class. It wasn't like there was anything to negotiate.

With that said, he has the right to mull over it because it is a huge decision and these options don't come around every year. There is not much loyalty in this business and he should do what's best for him. I think his decision rested on whether he could handle the PR hit. In the end, holding out and ditching Cleveland might be more trouble than it's worth.

 

[Bricklayer]

Has to still be a little alarmign for Cleveland fans even after getting him back. Now hopefully they can have a title or two in hand by the next time his contract comes up to seal the deal, but there does appear to have been some thought there. A waver. And maybe he's not as signed sealed and eternally loyal to Cleveland as you would want a second coming to be if you were a Cavs fan.

 

[PT Cruiser 9ROC]

I have a problem with that kind of scenario.

Don't you think the team wants to get better? To be more competitive? I'm glad Lebron James didn't hold out. Having him secured may actually make it easier to draw free agents. I guess I'd never make a good agent. I would want my client to be honest and above-board in his dealings with the team. After all, they are really after the same things.

Well the thing is that they don't have ANY cap space whatsoever, so having him on board wouldn't help on the FA front much. What I was saying was that the reason he may have held out for those few days in the first place may have been because he was questioning the front office's desire to become truly great. You hold out for the year, forcing them to open up their eyes and really get at the phones, trying to make the moves that they need to make. When you're at risk of losing essentially your entire franchise and future, a lax approach becomes the last thing to have.

Either way though, he's signed, and the potential outcry and chaos is subsided. I do applaud Lebron for taking that into consideration and doing the right thing by Cleveland.

 

[VF21]

Why is taking a couple of days to think about your future considered "holding out"? And why does it have to be assumed that he was questioning something? Maybe he just wanted to talk to his family and make sure everyone agreed this was the best course of action for him to take.

Some people were convinced Webber wasn't going to sign with us, either. They read all kinds of things into him taking a little time. And then, no matter what he said or did, they still remained convinced he had been about ready to bolt.

Sorry, but sometimes there really isn't a hidden agenda. There's just life. And some people want to make sure they're doing the right thing, especially when it involves millions and millions of dollars.

 

[jacobdrj]

Come now VF, we all know
A)Professional Athletes are not 'people'
B)Anyone having anything to do with 'Pro Sports' have no 'lives' to speak of outside of their sports
C)Cleveland is NOT LA.
D)EVERYTHING is a conspiracy...

 

[VF21]

Darn it, jacobdrj. I ALWAYS forget those...

 

[coolhandluke]

Sources have told ESPN's Stephen A. Smith that James has agreed to a four-year extension worth approximately $60 million, and he can opt out of the deal after three seasons. It had been widely reported that James would sign a five-year, $80 million maximum contract Wednesday. He could have very good reason to settle for less now.

With the NBA's collective bargaining agreement set to expire at the end of the 2010-11 season, James could be positioning himself for an even bigger payday as a free agent when the cap goes up. Under a new agreement, James and other big stars could be in line for deals in the neighborhood of six years and up to $150 million.

Full article: Link

It's 4 yr/60m with fourth year as player option. Now, you know why there was a delay in the signing. LBJ wants to keep his options open.

 

[jacobdrj]

Wow! Good for LeBron! He already has oodles of cash because of Nike, but he is leaving himself open to even more? BRAVO!