Posted July 12, 200619 yr comment_7358 LeBron James agreed to sign a three-year contract extension with a player option on Wednesday morning. James could have elected to take the maximum five-year deal that Cleveland first proposed, but instead can become a free agent just as the NBA's collective bargaining agreement expires after the 2010-2011 season. "We did extensive research and with the way the CBA is set up, it makes the most business sense to sign this extension and then look at another new contract in four years," James said. Financial terms were not disclosed.
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