Signed, sealed: LeBron signs new contract with Cavaliers


              FILE - In this June 22, 2016, file photo, Cleveland Cavaliers' LeBron James, center, stands in the back of a Rolls-Royce as it makes it way through the crowd during a parade in downtown Cleveland celebrating the team's NBA championship. A person familiar with the contract says James has agreed to a three-year, $100 million contract with the Cavaliers. The person says James, who recently led the Cavs to an NBA title--the first for a Cleveland sport team in 52 years--will soon sign the deal. The person spoke to the Associated Press Thursday on condition of anonymity because some details of the deal need to be finalized. (AP Photo/Gene J. Puskar, File)
FILE - In this June 22, 2016, file photo, Cleveland Cavaliers' LeBron James, center, stands in the back of a Rolls-Royce as it makes it way through the crowd during a parade in downtown Cleveland celebrating the team's NBA championship. A person familiar with the contract says James has agreed to a three-year, $100 million contract with the Cavaliers. The person says James, who recently led the Cavs to an NBA title--the first for a Cleveland sport team in 52 years--will soon sign the deal. The person spoke to the Associated Press Thursday on condition of anonymity because some details of the deal need to be finalized. (AP Photo/Gene J. Puskar, File)

LeBron James has signed his three-year, $100 million contract with the NBA champion Cleveland Cavaliers.

James will make $31 million next season and $33 million in 2017-18, a person familiar with the deal told The Associated Press on Friday. James has an option for the third season worth $36 million, said the person who spoke on condition of anonymity because financial terms were not disclosed.

In his third season back in Cleveland, James led the Cavs to the title, the first for one of the city's three professional sports teams since the Browns won the NFL championship in 1964.

The Cavs rallied from a 3-1 deficit in the finals to stun Golden State, winning Game 7 on the road. Late in that game, James raced back to block a shot by Andre Iguodala, a rejection that has become the signature play of the three-time champion's career.

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