James agrees to one-year deal with Cavs: reports

- Twice NBA champion LeBron James has agreed to remain in Cleveland on a one-year deal with the Cavaliers worth $23 million, according to multiple media reports on Thursday. The 30-year-old forward, a four-time NBA Most Valuable Player, also holds a player option for 2016-17 which would increase his contract to a maximum of $46.9 million spread over two years, CNBC said. James, who led the injury-hit Cavaliers to last season's NBA Finals where they lost 4-2 to the Golden State Warriors, opted out of a two-year deal on June 29 to reach free agency though it was widely expected he would remain with Cleveland.