(SportsNetwork.com) - LeBron James has finalized a two-year, $42.1 million deal with the Cleveland Cavaliers, according to a report.
ESPN.com reported on Saturday that James' goal is to re-sign with Cleveland prior to the 2016-17 season when the value of the league's maximum contract is expected to jump.
James announced in a first-person essay on Friday that he was returning to the Cavaliers after four seasons with the Miami Heat, telling Sports Illustrated he was "coming home."
His decision ended heated speculation about where the four-time MVP would sign after he opted out of his contract with the Heat last month.
James played his first seven NBA seasons for the Cavs, averaging 27.8 points and taking the team to the NBA Finals once. He made the Finals all four years with the Heat, winning two NBA titles.