LeBron James bound for Los Angeles Lakers

LeBron James

Sunday afternoon the NBA's most coveted free agent reached a four-year, $153.3 million agreement with the Lakers. One of general manager Koby Altman's most critical tasks will be deciding whether to retain or trade Kevin Love, who will make nearly $50 million the next two seasons.

The Cavs played 81 postseason games - one contest shy of an entire regular season - the last four years, winning 55 of them.

He played all 82 games for the first time in his career, and still dragged a mediocre Cavaliers roster to the NBA Finals, where they were swept away by Golden State.

Gilbert penned a touching letter thanking James for leading the team to a championship and four straight NBA Finals appearances.

The Philadelphia 76ers reportedly also had strong interest in the 33-year-old, who is regarded as one of the greatest players in National Basketball Association history. Here's what's being said. "Welcome to the family @KingJames #lakers4life #striveforgreatness @JeanieBuss @MagicJohnson and RP well done!"

If they win again next year, it would be the three-peat - something that has only been achieved by legendary Chicago Bulls and LA Lakers teams in the modern era.

Philadelphia 76ers to meet with reps for LeBron James
Other than posting to his Instagram account, James did not issue a public statement after he was traded to the Lakers. ESPN reported he is signing a four-year deal that will be worth $US160 million.

James is also being pursued by the Lakers, who have enough salary-cap space to sign him and another star player.

James, who is also known as "King James", took to Instagram to address his Cleveland fans.

While LeBron James' signing has kicked the National Basketball Association rumors into overdrive, there's no indication yet when DeMarcus Cousins plans to make his decision. While Golden State's dynasty remain alive and Kevin Durant's new contract ensures the Warriors will be title contenders for at least one more year, Golden State won't be able to keep their team together for much longer.

James, an Akron native, is expected to sign a 4-year, $154-million deal.

LeBron James's move to the LA Lakers has got a lot of high-profile stars excited.

"To be able to be a part of a championship team two years ago with the team that we had and in the fashion that we had is something I will always remember", James said after the Cavs' last loss of the finals. Eastern Time on Sunday morning, Cavaliers general manager Koby Altman was on the phone with LeBron James and his agent, Rich Paul, sources told ESPN.

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