When LeBron James announced his decision to return to Cleveland yesterday, there were no discussions of contracts. No one asked and no one was told, however we all probably wondered. Well, the wait is over. According to Marc Spears of Yahoo! Sports, King James will sign a two-year deal with the Cavs, with a player option in the second year. The deal is worth $42 million.

With the new CBA coming, it appears James short-term deal with the Cavs will set him up for a huge payday as early as next summer. Oh lord, is anyone ready to go through this again next summer? Right now, it seems that LeBron would opt out just to secure a bigger deal, however a lot can change in a season. Let the rumors start to fly.

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