LeBron James is set to become the highest-paid NBA player ever after he reached a three-year, $100 million deal with the reigning champions Cleveland Cavaliers and will join Michael Jordan and Kobe Bryant as the only three players who have exceeded the $30 million salary per season mark in their respective careers.
Cavaliers Nation reported that the Cavs "will be officially signing superstar LeBron James to a lucrative three-year, $100 million deal" and that the contract will eventually make him the highest-paid single-season salary earner in league history.
The 31-year-old James, who is entering his 14th season in the NBA, will be the highest-paid player in the league for the first time in his career as he earns $31 million during the first year of his contract.
It will increase to $33.3 million in the 2017-2018 season and $35.6 million in 2018-2019, which will move him past Jordan's current record of $33 million single-season salary with the Chicago Bulls during the 1997-1998 season.
Bryant, who earned $30.4 million during the 2012-2013 and 2013-2014 seasons, was the only other player who had ever received a salary of $30 million or more per season of service.
James had won three NBA titles in the span of his so far 13-year career. He won it back-to-back with the Miami Heat in 2012 and 2013 the most recent one was last June with the Cavs against the 73-9 regular season record-holder Golden State Warriors squad, who were then the defending titlists.
He averaged 29.7 points, 11.3 rebounds, 8.9 assists, 2.6 steals, and 2.3 blocks during this year's NBA Finals en route to his third Finals MVP award. The victory also marked the first time that the city of Cleveland has won a major sports championship in 52 years.
James had previously signed what is in essence one-year deals with the Cavs since he returned from Miami, but this time he opted for a longer one. Inquisitr noted that it was a "smart business move because it enabled him to take advantage of the rising NBA salary cap".
It was expected for him to sign another two-year deal with a player option in the second one to essentially re-negotiate his contract, but he surprised many by accepting a longer one with the player option coming in before the third and final season.