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LeBron James Announces He'll Stay with the Cleveland Cavaliers

Cleveland.com reports that the biggest potential free agent this summer will remain with his current team.

Bob Donnan-USA TODAY Sports

Cleveland.com is reporting that LeBron James intends to remain with the Cleveland Cavaliers next season.

"I love it here. I love being here. I love my teammates," James told cleveland.com, moments before he boarded a float at The Q for the Cavs' championship parade through downtown Cleveland. "Obviously my agent will take care of all the logistical things but, I'm happy. I've got no plans to go nowhere at this point."

James is scheduled to enter unrestricted free agency, a by-product of the two-year deal (with third-year player option) he inked upon returning to the Cavaliers in 2014. Speculation at the time held that shorter contracts allowed James more control over his destiny and thus more leverage over organizational decisions. The deal also allowed him to hit the market at the exact time the NBA's lucrative new television deal comes into effect, raising the salary cap from $70 million to $94 million.

Along with Kevin Durant, James was scheduled to be the highest of high-profile free agents. If his commitment to Cleveland holds, Durant will stand alone as the A-list, prize catch of 2016.

James averaged 25 points, 7.5 rebounds, and 7 assists per game while leading the Cavaliers to the NBA Championship this season. The 31-year-old will pass over a $24 million player option to facilitate his next contract.