LeBron officially tells Cavaliers he is returning

LeBron James, who has made it clear he does not intend to leave the Cleveland Cavaliers despite opting out of his contract, informed the NBA champions he will re-sign sometime this summer.

James still has no timetable for negotiating or signing a deal, sources told ESPN on Monday.

James, fresh off guiding the Cavaliers to their first NBA title, turned down a $24 million salary for the 2016-17 season at the June 29 deadline for his decision.

He is currently traveling and spending time with his family, will eventually meet with agent Rich Paul and go over his contract options, according to ESPN.

James can sign for up to $27.5 million for next season on a one-year contract or sign a multiyear deal that could make him the league’s highest-paid player at $30.8 million for 2016-17.

James is one of several members of the Cavs from last season’s championship team who remain unsigned, including J.R. Smith and head coach Tyronn Lue.

Smith and the Cavs have been in negotiations but remain apart on terms. Last week, Cavs GM David Griffin said he was “very confident” the team would work out a deal to re-sign Smith.

The situation with Lue is a little more complex. He remains under contract from a four-year, $6.5 million deal he signed in 2014 that then made him the highest-paid assistant coach in league history.

When he was promoted to head coach in January, Lue verbally agreed to a three-year deal but never signed the pact. The sides have been talking about a new deal since June, but have yet to come to terms.

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