NBA Free Agency Rumors: LeBron James will sign a Two-Year Deal with the Cavaliers

Free agent LeBron James will sign a two-year deal worth $46.9 million with the Cleveland Cavaliers, sources revealed to ESPN.com's Chris Broussard and Brian Windhorst.

Agent Rich Paul tells Cavs today LeBron will sign 2 yr deal with player option for 2nd year. $22.97 million 1st season, $24 mill 2nd year

— Chris Broussard (@Chris_Broussard) July 9, 2015

LeBron James had agreed to re-sign with the Cavs for one-year at $23 million plus a player option, sources told ESPN — Brian Windhorst (@WindhorstESPN) July 9, 2015

The second year, which is worth $24 million, is a player option, which means that James, 30, can become a free agent again in 2016 if he opts out, which he probably will.

In free agency, James did not talk to any other teams and was expected to sign with the Cavaliers after the organization dealt with its other free agents. The Cavaliers signed free agent Kevin Love to a five-year deal worth more than $100 million. Love, who many thought would be leaving Cleveland after an up-and-down year, revealed that he did talk to James before deciding to stay put.

"He happened to be in Los Angeles the same time I was so we just, you know, talked everything out and a lot of stuff was very honest and we came to a really good place and we agreed on a lot of things," Love said in a video clip that was posted to The Players' Tribune.

This is the first time since 2006 that James has resigned with the same team. When he became a free agent in 2010, he left Cleveland and signed with the Miami Heat. In 2014, James left the Heat and returned to the Cavaliers in free agency.

In the offseason so far, the Cavaliers have also resigned Iman Shumpert and signed Mo Williams to a one-year deal worth $2.5 million. They are working on a deal for Tristan Thompson and are reportedly looking to bring back free agent J.R. Smith. The Cavaliers are also rumored to be interested in Los Angeles Clippers' Jamal Crawford.

The Cavaliers finished the season second in the Eastern Conference. They fell short to the Golden State Warriors in the 2015 NBA Championship finals.