LeBron James to re-sign with Cleveland Cavaliers

LOS ANGELES, CA - JULY 13: NBA player LeBron James accepts the Best Male Athlete award onstage during the 2016 ESPYS at Microsoft Theater on July 13, 2016 in Los Angeles, California. (Photo by Kevin Winter/Getty Images)
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LOS ANGELES, CA - JULY 13: NBA player LeBron James accepts the Best Male Athlete award onstage during the 2016 ESPYS at Microsoft Theater on July 13, 2016 in Los Angeles, California. (Photo by Kevin Winter/Getty Images)

Maybe it was a formality, but Cleveland Cavaliers fans have to be happy to hear it anyway: LeBron James has announced he will re-sign with the team.

What’s more, ESPN reports he will sign a three-year deal that will make him the highest-paid player in the league next season.

The 31-year-old made $22.9 million last season (according to Basketball-Reference.com) when he led the Cavaliers to their first NBA championship.