AP Source: LeBron James has agreed to 3-year deal with Cavs

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)

By Associated Press August 11, 2016 2 min read

LeBron James is going to hang around home for a while.

Fresh off leading Cleveland to an NBA title, the first for one of the city’s three professional sports teams in 52 years, James agreed Thursday to a three-year, $100 million contract with the Cavaliers, a person familiar with the contract told the Associated Press.

James, who said earlier this summer he intended to re-sign with Cleveland, will soon sign the deal, said the person who spoke to the AP on condition of anonymity because some details of the deal need to be finalized.

ESPN.com first reported the financial terms of James’ new deal.

The 31-year-old James had been expected to accept the same one-year deal he signed in each of his two previous seasons since returning to Cleveland. However, he’s decided to stay longer to try and win more championships.