It's official: LeBron James is staying home in Cleveland with the Cavaliers. James signed a two-year $47 million deal with a player option after the first year. This means that we may go through this whole LeBron free agency buzz again next year--although he is expected to remain with the team for the seeable future.

The NBA has TV contracts with ESPN and Turner Sports and next summer the nine-year $24 billion contract is going to make the salary cap sky rocket. Meaning superstar players like LeBron could be paid even more during the 2015-16 season.

James, the best basketball player in the world, is obviously aware of the cap increase. According to ESPN, James will make $22.97 million for the 2015-2016 NBA campaign. That number could go up to as much as $30 million in two years.

Forbes published an article in June that counted down the world's highest paid celebrities, indicating that LeBron made $44M off the court in endorsements making him the sixth highest paid athlete in the world.

There is a lot on the line entering this upcoming season for the Cavs. The team invested in its future by locking up Kevin Love, Iman Shumpert, and Kyrie Irving with long-term deals. And they still have yet to sign forward Tristian Thompson . But now with James in the fold and his first-year return being such a success, Cleveland looks as though they may be ready to win now and for the next few years.

James is seeking a sixth straight NBA Finals appearance, a first title for the Cavaliers, a fifth NBA MVP award and ninth straight 1st-Team All-NBA selection. 

Tags: LeBron James Cleveland Cavaliers NBA