LeBron James finalized his contract with the Cleveland Cavaliers and has agreed to a two-year contract worth $42.1 million but here’s the kicker, James can opt-out after the first year making him a free agent all over again.
via ESPN:
James signed a two-year, $42.1 million deal with the goal of re-signing with the Cavs before the 2016-17 season when a new television deal is expected to create a large jump in value of the maximum contract.
As part of the deal, James will have an option to become a free agent next summer but is fully committed to the Cavs long term, sources said.
Depending on how the new television contracts are put together, the salary cap is projected to leap to as high as $80 million in 2016. There is also uncertainty with the current collective bargaining agreement starting in 2017, another reason James wanted to keep his long-term options open when it comes to the structure of his contract.
