Well team owner Dan Gilbert believes it is a certain possibility.
Ken Berger of CBSsports wrote this yesterday when talking about All-Star Game MVP, and current Cavalier, Kyrie Irving and LeBron.
"And the owner’s belief remains strong that he’ll have a shot to get James back — either as a free agent this summer or next, if James’ championship well runs dry in Miami."
James will certainly have his choice of suitors if he decided to opt-out of his contract, be it this season or next, and a return to Cleveland will definitely among the list of places that the reigning MVP would want to go.
If the big three at the Miami Heat are broken apart in the coming off season or two, with Dwyane Wade and Chris Bosh possibly going elsewhere as they are also set to become free agents, it would certainly sway LBJ's decision to stick at the Heat or twist and move to a Cavs side that already have a very talented point guard in Kyrie, as well as former All-Star Luol Deng.
James wants championships however - it's why he left in the first place - and would only make a return if he felt he could win more championships somewhere else.
Cleveland's hopes of having that potential rest in the hands of the young Irving, a player who James has previously said he greatly admires.