CLEVELAND - LeBron James apparently will stay in
Cleveland.
The Plain Dealer is reporting that James on Saturday announced
his intention to sign a five-year contract extension worth
approximately $80 million with the Cleveland Cavaliers.
James, 21, will not officially sign the deal until next
Wednesday, when the NBA's moratorium on new contracts ends. The
extension will start after the 2006-07 season and run through
2012-13.
"I am very excited and happy to be re-signing with the
Cavaliers," James said in a released statement. "Staying in
Cleveland near my hometown of Akron provides me with the unique
opportunity to continue to play in front of my family, friends
and fans."
A two-time All-Star and perhaps the brightest young superstar in
the NBA, James averaged 31.4 points, 7.0 rebounds and 6.6
assists this past season. The electric 6-8 swingman spearheaded
Cleveland to its first postseason appearance since 1998 and
nearly led the Cavs past the Detroit Pistons in the Eastern
Conference semifinals.
But James delayed the announcement of his decision to remain in
Cleveland, leading to speculation that the former No. 1 draft
pick would bolt for a larger media market like Chicago or New
York.
However, James opted to stay with the Cavs, a vastly improved
franchise under owner Dan Gilbert.
General manager Danny Ferry and the rest of the organization
clearly made an effort last offseason to build a team around
James. Ferry re-signed center Zydrunas Ilgauskas and brought in
free agents Larry Hughes, Donyell Marshall and Damon Jones.
"I look forward to working toward bringing a championship to our
great fans and the city of Cleveland," James said. "I'd like
to thank my coaches and teammates as well as the entire Cavalier
organization for their hard work, encouragement and support."