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LeBron James officially re-signs with Cavaliers

The King is officially back.

NBA: Brooklyn Nets at Cleveland Cavaliers David Richard-USA TODAY Sports

LeBron James has officially re-signed with the Cleveland Cavaliers.

The team announced the move in a press release:

"We are very fortunate to have a championship group together," said Cavs GM David Griffin per the release. "One that has grown organically to trust, and sacrifice for one another - on and off the floor. At the core of that group is LeBron. His leadership, passion and tireless commitment are the hallmarks of our success and have inspired our entire franchise. His connection and dedication to his community and this fan base are absolute. We share his determination to win at the highest level and can't wait to get back to work, together to defend our title."

The team did not disclose the length or value of LeBron’s contract, but it is reportedly worth $100 million over three seasons. Per the report, James is set to make $31 million next season - and be the highest paid played in the NBA for the first time - and he’ll then make $33 million in 2017-18. His 2017-18 salary is set to be the highest in NBA history.

With LeBron re-signed, the Cavs roster now stands at 13 with free agent guard J.R. Smith still expected to re-sign. In the video announcing his return, James called on the Cavs to get a deal done with Smith.