duncan228
07-19-2009, 10:59 PM
The Cleveland Cavaliers officially can offer LeBron James a contract extension (http://www.cleveland.com/cavs/index.ssf/2009/07/the_cleveland_cavaliers_offici.html)
by Brian Windhorst/Plain Dealer Reporter
LAS VEGAS -- The window is now open. And it's a big, complex window.
At 12:01 a.m. Saturday, the Cavaliers were able to offer LeBron James a contract extension because July 18 is the three-year anniversary of when he signed his most recent contract. It is believed the team will initiate contact soon to formally present an offer, which can be an extension of up to three years and around $65 million. James still has an option in his contract for the 2010-11 season, and the Cavs could offer three years on top of that.
James has said he will consider an extension offer if it comes, which of course it will. But there is no rush -- he has the option of extending his current deal until June 30, 2010, and has until the same date to exercise his one-year player option.
When the Cavs signed James in 2006, they reached out to him on the first day allowed, and several days later hosted a dinner for him at one of his favorite restaurants in Akron to formally present the offer. James considered it for a couple days and then agreed to take it.
The Cavs might take the same tact this time, though the issues are not as clear-cut. When James extended his contract last time, he was facing being a restricted free agent the next summer. This time, he would become an unrestricted free agent next summer, which is a status highly valued by players.
With the salary cap going down, re-signing with the Cavs financially appears to be the best route for James, and the team and his agent, Leon Rose, likely will brief him on that. The Cavs have made the loudest statement, however, by investing massively in the team over the past four seasons, including the recent trade for Shaquille O'Neal.
Signs point to James passing on his extension and waiting until next year before making a decision on his future. The two players who have the same options, Toronto Raptors star Chris Bosh and Miami Heat star Dwyane Wade, have indicated they will probably pass on extension chances this summer.
by Brian Windhorst/Plain Dealer Reporter
LAS VEGAS -- The window is now open. And it's a big, complex window.
At 12:01 a.m. Saturday, the Cavaliers were able to offer LeBron James a contract extension because July 18 is the three-year anniversary of when he signed his most recent contract. It is believed the team will initiate contact soon to formally present an offer, which can be an extension of up to three years and around $65 million. James still has an option in his contract for the 2010-11 season, and the Cavs could offer three years on top of that.
James has said he will consider an extension offer if it comes, which of course it will. But there is no rush -- he has the option of extending his current deal until June 30, 2010, and has until the same date to exercise his one-year player option.
When the Cavs signed James in 2006, they reached out to him on the first day allowed, and several days later hosted a dinner for him at one of his favorite restaurants in Akron to formally present the offer. James considered it for a couple days and then agreed to take it.
The Cavs might take the same tact this time, though the issues are not as clear-cut. When James extended his contract last time, he was facing being a restricted free agent the next summer. This time, he would become an unrestricted free agent next summer, which is a status highly valued by players.
With the salary cap going down, re-signing with the Cavs financially appears to be the best route for James, and the team and his agent, Leon Rose, likely will brief him on that. The Cavs have made the loudest statement, however, by investing massively in the team over the past four seasons, including the recent trade for Shaquille O'Neal.
Signs point to James passing on his extension and waiting until next year before making a decision on his future. The two players who have the same options, Toronto Raptors star Chris Bosh and Miami Heat star Dwyane Wade, have indicated they will probably pass on extension chances this summer.