Wednesday , Jul , 12 , 2006 C.Y. Ellis

James agrees to extension with Cavs

Cleveland, OH (Sports Network) – Cleveland management and fans apparently
heard the answer they had been waiting for: LeBron James is staying in

James agreed to a three-year contract extension with a player option that
enables the star forward to extend the deal for another season.

“This is a very special time for me and my family,” said James. “I signed this
extension for several reasons. First, it has been tremendous being close to my
family and friends and playing with my Cavalier teammates. I’m extremely happy
here and believe in my teammates, the coaches, and our management staff.”

The star guard has turned the Cavaliers around on the floor and in the eyes of
NBA fans everywhere during his three NBA seasons.

However, many in and out of the organization were concerned with James’
silence after being offered the extension last week.

Unlike his talented NBA compatriots, Denver’s Carmelo Anthony and Miami’s
Dwyane Wade, James waited before agreeing to the extension. The deal will
reportedly begin after the 2007 season and run through 2010-11.

James averaged a career-best 31.4 points, seven rebounds and 6.6 assists for
the Cavaliers last season while leading the club into the second round of the
Eastern Conference playoffs.

In his brief career, James has recorded 26.5 points, 6.6 rebounds and 6.6
assists per contest, while becoming the youngest player to win Rookie of the
Year following the 2003-04 campaign.

“This is a tremendous day for this organization and for Cleveland Cavaliers
fans,” said Cavaliers general manager Danny Ferry. “The opportunity to
continue our partnership with LeBron James for years to come is beyond
measure. He has been everything we had hoped for as a basketball player;
someone we already consider the most valuable player in the NBA and he only
will continue to flourish.”