We are deep into NBA Free Agency now and somewhere close to two billion dollars has now been spent by teams acquiring new players and negotiating new contracts.
Frenzied Free Agency
Kevin Love, Marc Gasol, Damian Lillard and Anthony Davis are all set for life after signing deals worth over $100M to stay at their current teams for the long term, while Goran Dragic, DeAndre Jordan, Draymond Green, Reggie Jackson and Jimmy Butler all got very close to breaking three figures themselves.
And finally, after the future of every other big free agent has been secured, LeBron James has signed a new contract with the Cleveland Cavaliers. However, it's nowhere near the levels of the aforementioned players above.
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According to a report from Ken Berger, a basketball writer for CBS Sports, LeBron has finally signed his new deal to keep him in Cleveland like everyone expected. But it's only for two years.
One More Year?
The deal, which will pay James a massive $23 million in the upcoming 2015-16 season, includes a $24 million player option for 2016-17 that LeBron will likely opt out, because he'll be able to get even more money.
The NBA salary cap is going to increase exponentially in the upcoming years thanks to the incredible new TV rights deal the league signed with various outlets. The cap this year stands at $70million but will rise to $89-million next year, where James will land himself yet another pay rise.
The 30-year old LeBron had an excellent return to Cleveland, averaging 25.3 points, 7.4 assists and 6 rebounds per game for the Cavs last year.
He was selected to the 2015 All-NBA First Team and the 2015 All-Star team, and he carried the injury-ravaged Cavaliers to the Finals, where they lost to the Golden State Warriors in six games after losing Kevin Love and Kyrie Irving to injury.
LeBron held out from re-signing early to make sure the Cavs brought in a good supporting, which they did. Love, Tristan Thomspon, Iman Shumpert all got big deals, while Mo Williams has been brought in as veteran backup.