James Agrees to Three-Year $100 Million Contract

By ESPN

LeBron James has agreed to a three-year, $100 million contract with the NBA champion Cleveland Cavaliers, agent Rich Paul told ESPN.

The salary in the first year of the deal will be $31 million, making James the highest-paid player in the NBA for the first time in his career. The salary for the 2017-18 season will top $33 million, making him the highest-paid player in a single season in league history, topping the $33 million Michael Jordan earned with the Chicago Bulls in the 1997-98 season.

A source told ESPN that James has a player option for the third year.

James will sign the deal next week when he returns for his annual LeBron James Family Foundation charity event.

Over the past two years, James had accepted one-year contracts from the Cavs with player options. After considering his choices, James opted for a longer deal with the Cavs this summer.

James announced that he would sign the new deal on Uninterrupted on Thursday.

Cavaliers vs. Warriors on Christmas Day

An NBA Finals rematch between the Cleveland Cavaliers and Golden State Warriors is the centerpiece of the five-game Christmas Day slate, the league announced Thursday as it revealed the schedule for the 2016-17 season.

It's the second consecutive year the teams will meet on Christmas. This time, however, the champion Cavaliers will host at 2:30 p.m. ET on ABC. The second game of the ABC doubleheader is the Chicago Bulls visiting the San Antonio Spurs at 5 p.m.

The day will start off with the Boston Celtics playing in Madison Square Garden against the new-look New York Knicks at noon on ESPN. The Minnesota Timberwolves and their young core of Karl-Anthony Towns and Andrew Wiggins will make their Christmas debut at Oklahoma City at 7 p.m. As has become tradition, the Los Angeles Lakers will play the LA Clippers in the late game.

The season will open with two games on Oct. 25 on TNT. The Knicks will visit the Cavs on ring and banner night, followed by the Warriors hosting the Spurs.

On the second night of the season, ESPN will televise No. 1 overall pick Ben Simmons' first game as the Philadelphia 76ers host the Thunder. Then No. 2 pick Brandon Ingram will play his first game for the Lakers, against the Houston Rockets in L.A.

The first week also has nationally televised matchups featuring Bulls-Celtics, Raptors-Cavs, Warriors-Pelicans and Clippers-Trail Blazers.

Kevin Durant will make his return to Oklahoma City with the Warriors on Feb. 11 as part of ABC's Saturday Primetime. Dwyane Wade will make his only return to Miami with the Bulls early in the season (Nov. 10). The Knicks' Derrick Rose makes his return to Chicago on Nov. 4 in a game on ESPN.