Cleveland: The Cavaliers wasted no time.
They offered LeBron James a five-year contract extension worth about $80 million at 12:01 a.m. this morning. Today is the first day teams can negotiate with players and July 12 is the first day players can sign.
The league does not allow teams to make any public statements about players during the moratorium period that began today. Or ganizations can con firm their intent to begin discussions. Following Friday's news conference, when draft picks Shannon Brown and Daniel Gibson were introduced, General Manager Danny Ferry said the Cavaliers intend to talk to James and his agent, Leon Rose, today.
"The earliest LeBron can do anything is on the [July] 12th," Ferry said. "The process starts [today] and carries through. We're going to initiate things with them and go from there."
If James does not sign, he would become a restricted free agent next summer and an unrestricted free agent in 2008. James has made recent comments about his desire to remain with the Cavaliers.
Looks like Bron won't be going anywhere anytime soon.....
