LOS ANGELES, July 9- LeBron James has ended speculation about his future after agreeing a two-year deal which will see him remain with the Cleveland Cavaliers next season, multiple reports said Thursday.
The NBA superstar has reportedly agreed a contract worth nearly $50 million after opting out of a two-year deal on June 29 to reach free agency.
The Cleveland Plain Dealer reported on its website that the deal comprised a $23 million contract for next season followed by a $24.7 million option for the 2016-2017 season.
James’s opt out decision was widely interpreted as a gambit designed to ensure the Cavaliers sign more top talent for next season after losing this year’s NBA finals.
Earlier this week point guard Mo Williams said he had agreed a deal with the Cavs which would see him reunite with James.
Williams played with James for two seasons between 2008-2010.
The Cavaliers have also handed lucrative contracts to forward Kevin Love and point guard Kyrie Irving, further enticing James to stay.
Cleveland is also close to agreeing a new deal with restricted free agent Tristan Thompson, who shares an agent with James, according to reports.
The Cleveland Plain Dealer said Cavaliers owner Dan Gilbert had splurged around $330 million on contracts to surround James with a team capable of challenging for the title.
James averaged around 25.3 points and six rebounds per game during the regular season in 2014-15, but sharply increased his numbers during the Cavs playoff challenge.
He averaged 30.1 points per game in the playoffs, which ultimately ended with a 4-2 loss in the Finals to Golden State Warriors.