<div class='quotetop'>QUOTE </div><div class='quotemain'>On July 1, the club will offer him a five-year, $75 million maximum contract extension. That date has been circled on the Cavs' calendar since they drafted the 21-year-old first overall in 2003. James is convinced he'll be in Cleveland for a long time. "I'm very happy here with our team and I'm very excited about our future," he said. "I'm confident we'll get something done. I've got confidence in the organization and what we've done together." During the announcement of his latest business venture, James was handed a shovel for a photo opportunity to show his commitment to rebuilding an urban area of Cleveland. The Cavaliers can only hope it also symbolized that their superstar is digging in for a long time. NBA rules prevent general manager Danny Ferry from publicly commenting on James' contract situation, but it's no secret the team is eager to get beyond July 1. "It's great that LeBron is showing his commitment toward Northeast Ohio and the city," Ferry said at the ceremony. "The organization is proud of him." James is proud of Wade, named finals MVP after leading the Heat to four straight wins over the Dallas Mavericks. Following Miami's 95-92 series-clinching win in Game 6 on Tuesday, James spoke to his jubilant friend in Dallas. "He was out of his mind, and he doesn't touch alcohol," James said. "I'm excited for him. I'm very happy for him. He's one of my best friends in the whole world. Hopefully, I'll get there one day and he can be excited for me." James averaged 31.4 points, 7.0 rebounds and 6.6 assists this season while leading the Cavs into the playoffs for the first time since 1998. He was just as good in the postseason (30.8, 8.1 and 5. as Cleveland beat Washington in the first round before losing in seven games to Detroit. There will be a new road block for James next season: the NBA champions. "We're happy for the Heat," he said. "But at the end of the day it's another step for us (Cavaliers). We want to get better." As for the housing project, James and three friends and business partners are among the investors in the 18-unit project that will feature two- and three-bedroom, 2,000-square-foot townhouses expected to sell for $265,000 and $325,000 each. "We're very excited about refurbishing and bringing great things to what we call the hood. Everybody else may call it the city but we call it the hood," James said to cheers at a symbolic groundbreaking for the project. "That's where we grew up at and we never ever had an opportunity like this." The homes will overlook the scenic Rockefeller Park near the Glenville neighborhood east of downtown. The lakeside area, once home to the city's most affluent families, is in the beginning stages of a redevelopment after race riots in 1968 caused widespread arson and looting that chased businesses and residents away for nearly 40 years</div> Wooo baby. In 5 years he will only be 26 years old...god thats so insane. :closedeyes:
Im really glad hes resigning w/ the Cavs. I really want to see how far he has gotten them in 5 years.
You could see this coming, I think everyone knew he was going to sign with Cleveland, just like Wade and Carmelo will soon sign a contract with there respective teams. I think Derek Anderson is earning more or equal to what Wade is earning.
It was really obvious that he was going to resign with Cleveland - I have no idea why some people think he is unhappy. He has done more than the average young players have done early in their careers. He changed the whole city and pretty much changed a lot.
Well I knew LeBron wasn't going to leave this team so early in his career. He and the Cavs will be a powerhouse in a year or two. He got all the money he deserved too.
It's good thats it's not a ridiculous extension...$15 million per is not bad at all for the Cavaliers.
<div class='quotetop'>QUOTE (BCB @ Jun 22 2006, 06:19 PM) <{POST_SNAPBACK}></div><div class='quotemain'>It's good thats it's not a ridiculous extension...$15 million per is not bad at all for the Cavaliers.</div>I know lol I was expecting something like 5 years for 100 million lol. They actually got out pretty cheap for 5 years and 75 million.
LeBron played it smart here, he knows the team could use the extra money to surround him with a better supporting cast. They aren't to far away from being a really good team, they just need a good sidekick for LeBron, Larry and his injury issues aren't going to cut it.
Um, you guys do know that the $75 million extension he will supposedly be signing is the maximum he can make on an extension to his rookie contract as stated in the new CBA. Therefore, it isn't as if he took a pay cut... he's still getting the max he is allowed to make under the CBA.
Knew he wouldn't leave...Cleveland is too close to Akron and after last season I bet he thinks they have a shot at a championship...and some nice pick ups in free agency and a good solid draft, they may be legit contenders within 5 years
<div class='quotetop'>QUOTE (BigMo763 @ Jun 22 2006, 10:02 PM) <{POST_SNAPBACK}></div><div class='quotemain'>Um, you guys do know that the $75 million extension he will supposedly be signing is the maximum he can make on an extension to his rookie contract as stated in the new CBA. Therefore, it isn't as if he took a pay cut... he's still getting the max he is allowed to make under the CBA.</div>Is there a specific site that talks about the cap and CBA? I've been searching for one lately but have had no luck.
Here is the 2005 CBA in its entirety:2006 NBA Collective Bargaining AgreementAlso, here is Larry Coon's absolutely terrific FAQ regarding the CBA:CBA FAQ
Lebron I am sure will resign with Cleveland I am not shocked at all. I would actually be shocked if he did not resign with them. Not sure why, but it's hard to picture Lebron going to another team. It be cool to see him of course with the Sixers, but I know that won't happen. lol Also be nice to see him as a Laker, but like I said I really don't think he is going any were.
Lebron James would be dumb to go elsewhere, and not stay in Cleveland. The ownership showed last year they are willing to try to put a good team around Lebron James, with the way they targeted Allen and Ray in the offseason. As well as bringing in Jones, Marshall, Hughes, and re-signing Z. Jones, Hughes, and Marshall all had good years the years before that, and it looked like decent signings. Unfortunately these players just didnt produce. Obviously Cleveland would be dumb to not pay top dollar to keep Lebron James. He is the most talented player in the league, and will give them a superstar for many years to come.
There was never any doubt in my mind he would re-sign. I mean people keep saying he will go to a big market like LA or NY, but why? For more money? The kid signed a $90M with Nike as it is, plus his NBA contract, PLUS endorsments. I mean come on man, he is set for life if he never touched a basketball again. He knows that, it's all about winning with LeBron, and I don't think he is the type of person to leave his hometown team (who made serious playoff noise) just for MORE money, even though he could buy the freaking country if he wanted to (exaguration).
Any surprise?The team is getting better, he grew up around there, and above all:The man just looks like a Cavalier
