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LeBron James agrees to $100M extension with Cavaliers, AP source says

LeBron James of the Cleveland Cavaliers celebrates during

LeBron James of the Cleveland Cavaliers celebrates during the Cleveland Cavaliers 2016 championship victory parade and rally on June 22, 2016 in Cleveland, Ohio. Credit: Getty Images / Jason Miller

A person familiar with the contract says LeBron James has agreed to a three-year, $100-million contract with the Cleveland Cavaliers.

The person says James, who recently led the Cavs to an NBA title — the first for a Cleveland sport team in 52 years — will soon sign the deal. The person spoke to The Associated Press Thursday on condition of anonymity because some details of the deal need to be finalized.

The 31-year-old James recently indicated he intended to re-sign with Cleveland, but was expected to accept the same one-year deal he signed in each of his two previous seasons since returning to Cleveland.

ESPN.com first reported James’ new deal.

James announced on Uninterruped he was re-signing with the Cavs, saying last year “was magical and inspiring.”

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