LeBron James and the Cleveland Cavaliers have agreed to a three-year, $100 million deal.

LeBron James, the businessman, strikes again. The 31-year-old small forward and the Cleveland Cavaliers have agreed to a three-year contract extension worth $100 million (per ESPN).

The deal came after an historic championship parade in Cleveland, multiple vacation getaways, acquisition of Mike Dunleavy (via trade) and the free agent signings of James Jones and Chris Anderson. J.R. Smith is also expected to re-sign with the club, as LeBron pleaded for in his video with the Uninterrupted.

“Why does LeBron keep signing short deals,” one might ask. Well the NBA salary cap has increased every year since the last collective bargaining agreement, with this year seeing the most significant increase. Next summer the salary cap is projected to reach $102 million thanks to new television deals with ESPN and Turner.

James could sign his long-term deal in the next two years and has the potential to earn the largest contract in NBA history surpassing Mike Conley‘s $153 million deal that was signed this summer.

This offseason has been arguably the most stress free of James’ career, after delivering the championship that he promised to Cleveland.

LeBron James has stated that he wants to remain in Cleveland long term and now that the Cavaliers have a title, it appears like that will be the case.

The best player on the planet should be ready to lace them up for at least three more seasons with the wine and gold. This time, LeBron and the Cavs will be defending their title as NBA Champions.