LeBron James signs 2-year contract, according to reports

LeBron James reacts during the second half against the Los Angeles Lakers in an NBA basketball game in Los Angeles in 2011. The three-team trade that gave the Cavaliers salary cap space to possibly land LeBron James is official. The Cavs and Boston Celtics confirmed the deal on Thursday, July 10, 2014, when the NBA moratorium on signings ended. (AP Photo/Lori Shepler, File)

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By TOM WITHERS Associated Press

July 12, 2014 - 3:37 pm

CLEVELAND — A person familiar with the negotiations says LeBron James has signed a two-year, $42.1 million contract with the Cavaliers.

The contract includes an option for James to become a free agent next summer, but it is strictly “a business deal,” according to the person who spoke to The Associated Press on Saturday on condition of anonymity because the team has not commented about the agreement.

James announced he was returning to the Cavaliers on Friday, picking Cleveland over Miami and reversing the decision he made four years ago to sign as a free agent with the Heat.

In an essay in Sports Illustrated, James indicated he will finish his career in Cleveland.

ESPN.com first reported the deal for James.

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