It’s official! For the first time in his career, LeBron James is now the highest paid player in the NBA.
His agent Rich Paul told ESPN that the three-time NBA champion has agreed to resign with the Cleveland Cavaliers for a three-year, $100 million contract.
James will earn $31 million for the first year and will collect more than $33 million for the 2017-18 season, making him the highest player in a single season. His salary now tops Michael Jordan’s $33 million earned with the Chicago Bulls during the 1997-98 NBA season.
For the past two seasons, James negotiated one year contracts from the Cavs with player options. After considering his many options and history with the team, he decided to opt for a longer deal with the Cavs this summer.
The 31 year-old will officially sign the deal next week at his annual LeBron James Family Foundation charity event.
“I just want to let ya’ll know I’m resigning back with the Cleveland Cavaliers, my hometown team,” LeBron announced on Uninterrupted.
“I can’t be more excited than this opportunity once again, man , to defend our crown, defend our title. We all know last year as a magical, inspiring– all the words you can come with–it was an unbelievable season. I just can’t wait to get the group back together– the team, the franchise, more importantly, get everybody together, the fans,” he continued.
“Without you guys, without your passion and commitment, we wouldn’t have been able to do what we did this past season. I’m ecstatic. I can’t wait to see my guys. I can’t wait to get back out there in the wine and gold and just get the band back together. Lastly, let’s get J.R. Smith done. It’s that time,” he added.
Watch the official announcement below.
