[onlooker]

Yes or no? How long will it take for Lebron James to come up with a answer to this 80 million dollar deal?

Article

Cavaliers offer LeBron $80 million extension

Associated Press

CLEVELAND -- LeBron James has given them triple-doubles, victories and hope. Now, all the Cleveland Cavaliers need from their superstar is a yes-or-no answer.

Shortly after the NBA's free agency season began Saturday, the Cavaliers contacted James to offer him a five-year maximum contract extension worth about $80 million, a deal that could keep him in Cleveland through the 2012-13 season.

For months, James has said he has no plans to leave. However, until he says he has accepted the Cavaliers' offer, nothing is certain. James can't officially sign anything until July 12, and there's a chance he might make the club sweat through the holiday weekend before telling them his plans.

On Friday, he had little to say about his contract situation, a topic that causes some Cleveland fans to tremble with fear.

"I'm not talking about it today," a smiling James said at a news conference held by the Cavaliers to introduce new draft picks Shannon Brown and Daniel Gibson. "You'll have to ask them [the Cavaliers]."

But the team, fearful of doing anything to upset James or break the league's gag order during the free agency moratorium from July 1-12, is reluctant to discuss much about the star's future.

"This is one you don't want to stub your toe on rules," general manager Danny Ferry said. "We're going to make a call and allow things to unfold from there. Rushing is not a necessity."

But Cleveland fans aren't as patient. They've been burned before, crushed by promises made by the likes of Art Modell, Jim Thome and Carlos Boozer, who all said they would stay and left anyway.

The hope is that James, who was born in Akron, stays close to home.

"These are stressful times," Marissa Carcioppolo of Parma said after buying a silver Cavaliers basketball for her 5-year-old niece's birthday at the club's team shop at Quicken Loans Arena. "Everyone is a little bit stressed out that he's going to leave us, but LeBron has said he wants to stay in Cleveland. He's home-grown, and I feel like he wants to be here. His heart is here."

James planned to stay in town for the next few days, but he didn't know if the Cavaliers would be meeting with his agent, Leon Rose, soon. James even joked about his high-profile agent, who represents Andrea Bargnani, taken No. 1 overall by Toronto, and Philadelphia's Allen Iverson, rumored to be on the trading block.

"I hope he [Rose] can find some time for me," James said.

The Cavaliers have exclusive negotiating rights with James this summer. As the team that drafted him, they can offer him a "max" contract extension allowed under the league's collective bargaining agreement that would kick in after the 2007-08 season. Under that deal, James, who will make $5.8 million next season, would make 25 percent of the 2007-08 salary cap, which will be determined later.

Players have historically taken the extension when it's offered, primarily because of the security.

Last season, Amare Stoudemire signed his five-year, $73 million extension with Phoenix, then suffered a season-ending knee injury one week later. If he had not signed, Stoudemire would have risked never seeing that money from the Suns again.

If James chooses not to sign this summer, he can become a restricted free agent after the 2006-07 season. But the Cavaliers would still be able to match any offer sheet made to James, plus they could give him a six-year deal while other teams could only give him five.

James would not be eligible for unrestricted free agency until after the 2007-08 season.

With a busy summer ahead and his fourth NBA season looming at the other end of it, James may want to get the extension talks over with quickly. He's playing for Team USA in the World Championships and has to report to training camp in Las Vegas on July 19.

He wasn't required to be at Friday's event when the Cavaliers welcomed Brown and Gibson. But James was there, perhaps providing another sign of his commitment to Cleveland.

"He's a big part of this and that has to make both those guys feel really pretty good, that the leader here wants to come and show some support for them," Ferry said.

And how does it make the GM feel?

Ferry smiled.

"Always good to see him," he said.

[bigboydan]

Stoudemire got 73 million last year over 5 years, and lebron is alot better than he is.

considering lebron can perty much ask for the sky, and get the stars. just how much more can he really get in reality. i say he should sign that contract ASAP!

[Illusion]

I'm sure the ink is drying as we speak.

[ego74]

If James chooses not to sign this summer, he can become a restricted free agent after the 2006-07 season. But the Cavaliers would still be able to match any offer sheet made to James, plus they could give him a six-year deal while other teams could only give him five.

That's the key right there, as Clev will make sure to have enough cap space open to match ANY offer sheet. From everything I've heard, James is happy in Cleveland and wants to win there.

The fact that it took until his 3rd year for the team to make post-season play has helped fueled all this "LeBron moving on" talk.
This team is on the rise and King James isn't going anywhere in the near future

[onlooker]

Lebron James agrees today to stay in Cleveland and to sign that contract extension. It wont become final until Wednesday, the 12th.

Good news to all the Cavaliers fans out there, that would of been a franchise killer if somehow they couldnt get this guy to resign.

[bigboydan]

i think we all seen this one comming though. i just really wondered why he waited so long before he signed it.


the sick thing about this new contract of his is, it's probly a bargin compared to some of those other contracts floating around out there.

[bigboydan]

heres the deal he just signed:

CLEVELAND (AP) -- LeBron James agreed early Wednesday to a three-year contract extension worth about $60 million with the Cleveland Cavaliers, keeping the All-Star forward with the club through at least the 2009-10 season.

The contract includes an option that would allow James to extend the deal one season, the Cavaliers reported on their Web site. The contract, which James is yet to sign, will take effect after the 2006-07 season.

"I knew all along -- and I had always said -- that I wanted to stay here in Cleveland, so it's a terrific day for me and my family to actually make it official," James said in an interview on the team's Web site. "Now I can continue to concentrate on basketball and helping bring a championship to Cleveland."

James chose an extension that is for two years less than the maximum deal the Cavs could have offered under the league's collective bargaining agreement, a five-year package worth as much as $80 million.

"We did extensive research and with the way the CBA is set up, it makes the most business sense to sign this extension and then look at another new contract in four years," James said.


With James traveling on the West Coast, no formal news conference was planned.

Although the 21-year-old James announced Saturday that he had agreed to an extension with the Cavs, terms couldn't be announced until Wednesday, when the NBA's moratorium on free agency ended.

The deal works out well for James and the Cavaliers, whose management made the negotiation process run smoothly, said the player's agent, Leon Rose.

"They really look at their relationship with LeBron as a partnership and understand that helping LeBron maximize his opportunities only helps them as well," Rose said.

The Cavs offered James the maximum deal, but understand why he decided that contract wasn't best for him, general manager Danny Ferry said.

"This allows LeBron to maximize his value while wearing a Cavaliers uniform. LeBron is an intelligent young man. He did his due diligence and is excited about continuing to play with the Cavaliers and from our perspective his presence is beyond measure," Ferry said.

The deal is a huge relief for a team that has risen into contention in James' three seasons and fans who were worried the 6-foot-8 superstar might leave Cleveland, which hasn't celebrated a championship since the 1964 Browns won the NFL crown.

James, who's from nearby Akron, has resurrected a franchise that has never reached the NBA finals. With James hitting winning shots in the playoffs, the Cavaliers came within one victory last season of reaching the Eastern Conference finals.

"If I didn't believe in this team and this organization and the direction that we're headed, I wouldn't have signed the extension," James said.

In a file photo Cleveland Cavaliers' LeBron James goes up for a dunk against the Detroit Pistons in the first quarter of a second-round NBA playoff basketball game Saturday, May 13, 2006, in Cleveland. James agreed early Wednesday July 12, 2006, to a three-year contract extension with the Cleveland Cavaliers, keeping the All-Star forward with the club through at least the 2009-10 season.

Ferry wasn't concerned that James could leave after four seasons.

"Based on the direction we're headed, we're confident we'll still be in a great position when that time comes," Ferry said.

The Cavs' turnaround began when they won the 2003 draft lottery and selected James with the No. 1 overall pick out of St. Vincent-St. Mary High School. James has had more points, assists and rebounds at a younger age than any player in NBA history.

Last season, James became just the fourth player to average at least 31.0 points, 7.0 rebounds and 6.0 assists, joining Oscar Robertson, Jerry West and Michael Jordan. He was named the youngest All-Star game MVP, and finished runner-up to Phoenix's Steve Nash for league MVP.

"Now we need to continue to bring in the players to complement LeBron in our quest for an NBA title," said Ferry, who plans to try to re-sign restricted free agent power forward Drew Gooden.

"I think we are really building a championship-quality team and organization and our run this year in the playoffs makes me very anxious to get back at it next year," James said.

Despite that, James said there's still work to be done by the team and himself before it's time to negotiate his next contract.

"If we continue to build a winning team and I continue to perform at the highest level, then we both will come out of this as winners and the fans will win as well," he said.

[Illusion]

What do you guys think about Labron agreeing to the three year deal instead of the five year deal?

[bigboydan]

i think it's smart on his part myself.

i feel he will know what direction the cavs really will be heading in regards to a real NBA championship type run.

[onlooker]

What do you guys think about Labron agreeing to the three year deal instead of the five year deal?

Its a 3 year deal, with a players option on the 4th year.

Its a very smart move on his part, because he can end up making a lot more when that 3 year contract up. Because players with 7 years or more experience can make 30% of the salary cap. Players with less then 7 years experience can only make 25% of the cap.

Plus he can see how serious the Cavs are to building a championship team, and can opt out of the contract after 3 years if he dont feel he needs to stay there.