LeBron James is re-joining his hometown team, the Cleveland Cavaliers after four years in Miami.
King James broke the news in an essay with Sports Illustrated just two days after meeting with Heat president Pat Riley in Las Vegas.
But for how much is LeBron playing for?
Here’s what you need to know about King James’ contract:
1. The Cavs Can Offer LeBron the Maximum Salary
His deal with the Cavs is for two-years and $42.2 million. LeBron has insisted he will finish his career in Cleveland, with a source telling USA Today that the two-year decision is a business decision. It will free him up to renegotiate at the end of next season or opt out. There was an option of a $88 million four-year deal but that wouldn’t give LBJ the freedom he’d like.
That’s thanks to trades that the Cavs made with the Boston Celtics and Brooklyn Nets in the days leading up to LeBron’s announcement, Cleveland has the space to offer LeBron maximum money of $20.7 milion.
2. His Previous Contract in Cleveland Was Worth $60 Million
In 2006, James took less than maximum money, $60 million, to stay in Cleveland. By doing so he allowed himself the option to leave in 2010, which he did. His agent at the time, Leon Rose, said at the time:
LeBron looked at this very deeply and understood the complexity of what the situation was. In the end, this works out very well for him and puts him in a position to accomplish all of his goals, both on the court and off.
3. Kyrie Irving Just Signed a $90 Million Deal With the Cavs on July 9
In Cleveland, LeBron will join up with Kyrie Irving to create one of the most exciting partnerships in NBA history. Irving just inked his $90 million deal two days before LeBron announced. His deal doesn’t expire until 2020. Adding Andrew Wiggins into the mix too, these are exciting times for Cleveland fans.
4. LeBron’s Miami Contract Was Worth $110 Million
When James signed with the Heat, James, Chris Bosh and Dwyane Wade all signed six-year-deals, with James’ $110 million-deal the most lucrative of the three. All three had opt-out options after four years.
5. Ray Allen Will Be Taking a Pay Cut if he Joins LeBron
While he was in Miami with LBJ, Ray Allen took in $3.3 million per year, and the likelihood is that he’d have to go down again to play with LeBron again in Cleveland.
With LeBron James' announcement Friday that he's going back to Cleveland, speculation built that Heat teammate Ray Allen would join him.Click here to read more